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Magnetic North Acquisition Corp. Announces New Chief Financial Officer

**Not for distribution to United States Newswire Services or release publication, distribution or dissemination, directly or indirectly, in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws**

CALGARY, Alberta and TORONTO, March 24, 2023 (GLOBE NEWSWIRE) -- Magnetic North Acquisition Corp. (TSXV: MNC) ("Magnetic North" or the "Company"), is pleased to announce Lance McIntosh as Chief Financial Officer.

Mr. McIntosh has over 45 years of experience in corporate financial reporting, audit and financial management in various industries including asset management, technology, pharmaceutical, merchant banking, and corporate finance.

Mr. McIntosh has specific expertise in financial operations management, financial administration and control, M&A, and both project and acquisition financing. Mr. McIntosh has held senior financial positions with a number of significant private and public corporations. He has, among other things, overseen the financial operations, the corporate development function, and the ?going public' process for two major Canadian corporations.

Over 10 years, ending in 2012, he developed and managed from start-up a group of unique business entities/operations and the corporate infrastructure required to support the entire diverse group. As Senior Financial Advisor to this unique group of entities, during this period he nurtured and oversaw the growth of an organic farm; a hydro-electric power generation group; an investment bank; and, the Paloma Foundation - all from original concept to fully functioning operating entities. He was responsible, either alone or in concert with other professionals, for developing and maintaining all of the operating systems and procedures required for each of these operating units; he was specifically charged to ensure these operating units remained true to their mandate and focus, while exercising sound business practices.

Lance began his business career as a student-in-accounts with Price Waterhouse & Co. and received his designation as a chartered accountant in 1977. He is currently a member in good standing of the Institute of Chartered Professional Accountants of Ontario and of Canada. Mr. McIntosh graduated cum laude, receiving his H.B.A. from Trinity College, University of Toronto.

Magnetic North has accepted the resignation of Ms. Cindy Davis. We thank Ms. Davis for her hard work, expertise, and tireless efforts with Magnetic North.   

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, our 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 shares trade on the TSX Venture Exchange under the stock symbol MNC. For more information about Magnetic North, visit its website at www.magneticnac.com. Magnetic North's securities filings can also be accessed at www.sedar.com.

For further information, please contact:

Graeme Dick
Investor Relations
Stephen McCormick 
VP, Capital Markets  

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.


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