1844 Announces Closing of Flow-Through Private Placement
1844 Announces Closing of Flow-Through
Private Placement
Saskatoon, Saskatchewan--(Newsfile Corp. - December 29, 2023) -
1844 RESOURCES Inc. (TSXV:
EFF)
(the "
Company
" or "
1844
") is pleased to announce the closing of its non-brokered private
placement of flow-through units (each, an "FT Unit") previously announced on September 23, 2023 and
November 10, 2023 (the "FT Unit Offering"). The Company issued 3,587,500 FT Units at a price of
$0.03 per FT Unit for aggregate gross proceeds of $107,625. Each FT Unit consists of one common
share, issued as a "flow-through share" (an "FT Share") within the meaning of the
Income Tax Act
(Canada) (the "Tax Act"), and one-half of one common share purchase warrant (each whole warrant, an
"FT Unit Warrant"). Each FT Unit Warrant entitles the holder thereof to acquire one common share in the
capital of the Company at a price of $0.05 for a period of 36 months following the closing of the FT Unit
Offering.
1844 will use the gross proceeds of the FT Unit Offering for exploration activities on its properties in
Quebec. The gross proceeds from the issuance of the FT Shares will be used to incur resource
exploration expenses that will constitute "Canadian exploration expenses" and "flow through mining
expenditures" as defined in the Tax Act (the "Qualifying Expenditures") on the Company's Native Copper
project or, if the Company's previously announced amended and restated option agreement with Nickel
North Exploration Corp. is accepted by the TSX Venture Exchange (the "Exchange"), the Hawk Ridge
property.
In connection with the FT Unit Offering, the Company paid a cash finder's fee of $4,860 and 162,000
non-transferable common share purchase warrants (each, a "Finder's Warrant") to a certain finder who
referred investors to the Company, in accordance with applicable law and the policies of the Exchange.
Each Finder's Warrant entitles the holder thereof to purchase a Warrant Share at a price of $0.05 per
Warrant Share for a period of 36 months following closing of the FT Unit Offering.
All securities issued pursuant to the FT Unit Offering are subject to a statutory hold period expiring April
29, 2024.
The Company expects to close its previously announced offering of up to 50,000,000 units (each, a
"Unit"), with each Unit comprised of one common share and one-half of one common share purchase
warrant (each whole warrant, a "Unit Warrant"), at a price of $0.02 per Unit for aggregate gross
proceeds of up to $1,000,000 (the "Unit Offering") in early 2024. Each Unit Warrant will entitle the holder
thereof to acquire one common share in the capital of the Company at a price of $0.05 for a period of 36
months following the closing of the Unit Offering. Completion of the Unit Offering remains subject to a
number of conditions, including, without limitation, receipt of all regulatory approvals, including approval
of the Exchange.
None of the securities issued in the FT Unit Offering or the Unit Offering will be registered under the
United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or
sold in the United States absent registration or an applicable exemption from the registration
requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an
offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale
would be unlawful.
About 1844 Resources Inc.:
1844 is an exploration company with a focus in strategic and energetic
metals and underexplored regions "Gaspé, Nunavik Québec".
With a dedicated management team, the
Company's goal is to create shareholder value through the discovery of new deposits.
1844 RESOURCES INC.
(signed) "
Sylvain Laberge
"
Sylvain Laberge
President and CEO
514.702.9841
FORWARD-LOOKING INFORMATION
This news release includes "forward-looking statements" and "forward-looking information" within the
meaning of Canadian securities legislation. All statements included in this news release, other than
statements of historical fact, are forward-looking statements including, without limitation, statements with
respect to the use of proceeds of the FT Unit Offering, the amended and restated option agreement with
Nickel North Exploration Corp. and completion of the Unit Offering. Forward-looking statements include
predictions, projections and forecasts and are often, but not always, identified by the use of words such
as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and
statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and
other similar expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while
considered reasonable by management based on the business and markets in which the Company
operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks
and contingencies. These include assumptions regarding, among other things: general business and
economic conditions; the availability of additional exploration and mineral project financing; and
Exchange approval.
There can be no assurance that forward-looking statements will prove to be accurate and actual results,
and future events could differ materially from those anticipated in such statements. Important factors that
could cause actual results to differ materially from the Company's expectations include exploration or
other risks detailed from time to time in the filings made by the Company with securities regulators,
including those described under the heading "Risks and Uncertainties" in the Company's most recently
filed MD&A. The Company does not undertake to update or revise any forward-looking statements,
except in accordance with applicable law.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/192769