Havilah Mining Canada Ltd. ("Havilah Canada") entered into an asset purchase agreement to acquire the remaining 50% interest in the Tully mining claims and mining lease located in Timmins, Ontario from 55 North Mining Inc. for CAD 1.2 million on August 3, 2018. Under the terms of the agreement, Havilah Canada will acquire 55 North's legal and beneficial right, title and interest in and to all of 55 North's 50% in the Tully Property in exchange for consideration which includes payment of CAD 0.2 million in cash for the settlement of outstanding litigation between 55 North and a former employee and the waiver of outstanding liabilities owing to Havilah Mining Corporation (TSXV:HMC), the parent company of Havilah Canada, by 55 North in the amount of approximately CAD 970,552. Upon completion of the acquisition, Havilah Canada will be the 100% direct owner of the Tully Property. Concurrent with the closing, 55 North is required to complete a non-brokered private placement offering of 3,333,333 post-consolidation common shares of 55 North to Havilah Canada, at a price of CAD 0.06 per 55 North Share, for aggregate gross proceeds of CAD 0.2 million. Completion of the acquisition and the placement is subject to the satisfaction of certain conditions precedent as well as the approval of the TSX Venture Exchange and minority shareholders and disinterested shareholders of 55 North Mining. As of May 16, 2019, the transaction was approved by the shareholders of 55 North Mining. As of July 11, 2019, the transaction was approved by regulators and the completion is subject to the final approval of the TSX Venture Exchange. The acquisition is expected to close on September 30, 2018, or such other date as the parties may agree upon. As of November 27, 2018, the transaction is expected to close on or about December 31, 2018. Havilah Mining Canada Ltd. completed the acquisition of the remaining 50% interest in the Tully mining claims and mining lease located in Timmins, Ontario from 55 North Mining Inc. on July 10, 2019.