Magnetic North Acquisition Corp. Announces Director John Kowal Has Passed Away

**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, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Magnetic North Acquisition Corp. (TSXV: MNC) (“Magnetic North” or the “Company”) is deeply saddened to announce the passing of Mr. John Kowal, a non‐executive director of the Company and Chair of the Audit Committee.

John was a man of unparalleled ethics and integrity. His wisdom, professionalism and kindness is a tremendous loss to the team. The Board of Directors and management team of Magnetic North express their sincere condolences to John's family during this difficult time. John's advice, common sense leadership and friendship will be greatly missed.

Announcements regarding any resulting changes to the Board of Directors and Audit Committee will be forthcoming.

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.

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.