Mr. Graeme Dick reports

MAGNETIC NORTH ACQUISITION CORP. ANNOUNCES SHAHID QURESHI AS DIRECTOR OF THE CORPORATION

Magnetic North Acquisition Corp. has appointed Shahid Qureshi to the board of directors.

Shahid is a certified board director from ICD Canada with over 25 years of experience in finance, cyber security, governance, and risk management. Mr. Qureshi is currently the chief executive officer of Leverage Global Inc. and holds senior governance roles with the federal government. Mr. Qureshi was a risk advisory leader with KPMG Canada and helped Fortune 500 companies with optimizing their strategic, technological, financial, operational and transformational goals. Mr. Qureshi has more than two decades of international experience as a board director and sits on audit, risk, investment and governance committees across the globe.

Mr. Qureshi has extensive international experience as a business leader and has helped organizations succeed in Canada, Asia, Middle East, Far East, Europe, United States, United Kingdom, Caribbean and Africa. Mr. Qureshi is a chartered professional accountant, a fellow of Chartered Certified Accountants, a certified internal auditor, a certified cost and management accountant, a certified information systems auditor and holds a master's degree in economics.

Mr. Qureshi's recent leadership roles include being the chair of ACCA Canada, chair of Calgary Parking Authority, board director of FFCA, vice-chair of CCIS, board of governors of IIA Calgary, audit committee member of City of Calgary, board director of EASC, board chair of Calgary Chapter of CPA's, president of ISACA Calgary and member advisory committee of Auditing & Assurance Standards Board.

Magnetic North is also pleased to announce a grant of stock options in accordance with the terms and conditions of the company's stock option plan to certain officers, directors, various consultants and employees of the company to purchase an aggregate of 975,000 common shares in the capital stock of the company. The options are exercisable for a period of five years from the date of grant at a price of five cents per share.

The company has also granted an aggregate of 85,000 stock options, which are exercisable for a period of five years from the date of grant, into Series A preferred shares of the company at an exercise price of $7.25 per preferred share.

About Magnetic North Acquisition Corp.

Magnetic North invests and manages businesses on behalf of its shareholders and believes that capital alone does not always lead to success. With offices in Calgary and Toronto, its experienced management team applies its considerable management, operations and capital markets expertise to ensure its investee companies are as successful as possible for shareholders. Magnetic North common shares and preferred shares trade on the TSX Venture Exchange under the stock symbol MNC and MNC.PR.A, respectively.

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