1844 Completes Public Offering of Common Shares
1844 Completes Public Offering of Common
Shares
Saskatoon, Saskatchewan--(Newsfile Corp. - November 23, 2022) -
1844 RESOURCES Inc. (TSXV:
EFF)
(the "
Company
" or "
1844
") is pleased to announce that it has closed its previously announced
best efforts public offering of 10,164,000 common shares in the capital of the Company (the "
Common
Shares
") at a price of $0.05 per Common Share for aggregate gross proceeds of $508,200 (the
"
Offering
"). For further details on the Offering, see the Company's news release dated July 21, 2022.
The Offering was conducted by Leede Jones Gable Inc. (the "
Lead Agent
") and included a syndicate of
selling brokers, including Raymond James Ltd., Richardson Wealth, Echelon Wealth Partners Inc. and
Equity Capital Markets Compensation Securities (collectively with the Lead Agent, the "
Agents
"). On
closing of the Offering (the "
Closing
"), the Company issued to the Agents an aggregate of 813,120 non-
transferable compensation options (the "
Agent's Options
"), with each Agent's Option entitling the
holder to purchase one Common Share at a price of $0.05 per Common Share for 36 months from the
date of issuance. In connection with the Offering, the Company also paid to the Agents a cash
commission of $40,565, being 8.0% of the gross proceeds of the Offering, and a corporate finance fee
of $25,000.
The Company intends to use the net proceeds from the Offering for ongoing exploration expenditures on
the Company's properties
and for general corporate purposes.
The Offering was completed by way of a short form prospectus filed in each of the Provinces of British
Columbia, Alberta, Saskatchewan, Ontario and Québec.
The Common Shares offered have not
been, nor will they be, registered under the United States Securities Act of 1933, as amended,
and may not be offered or sold in the United States or to, or for the account or benefit of, U.S.
persons absent registration or an applicable exemption from the registration requirements. This
press release will not constitute an offer to sell or the solicitation of an offer to buy nor will
there be any sale of the Common Shares in the United States or in any other jurisdiction in
which 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, Chibougamau 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
Slaberge@1844 resources.com
FORWARD-LOOKING INFORMATION
This press release contains statements which, other than statements of historical fact constitute
"forward-looking statements" within the meaning of applicable securities laws, including statements with
respect to: results of exploration activities, mineral resources. The words "may", "would", "could", "will",
"intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the
Company, are intended to identify such forward-looking statements. This press release contains
forward-looking information in a number of places, such as in statements relating to use or proceeds
from the Offering. Investors are cautioned that forward-looking statements are based on the opinions,
assumptions and estimates of management considered reasonable at the date the statements are
made, and are inherently subject to a variety of risks and uncertainties and other known and unknown
factors that could cause actual events or results to differ materially from those projected in the forward-
looking statements. These factors include the general risks of the mining industry, as well as those risk
factors discussed or referred to in the Company's annual information form for the year ended April 30,
2021, available at
www.sedar.com
. Should one or more of these risks or uncertainties materialize, or
should assumptions underlying the forward-looking statements prove incorrect, actual results may vary
materially from those described herein as intended, planned, anticipated, believed, estimated or
expected. Although the Company has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in forward-looking information, there
may be other factors that cause actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that such information will prove to be accurate as actual results
and future events could differ materially from those anticipated in such statements. The Company does
not intend, and does not assume any obligation, to update these forward-looking statements except as
otherwise required by applicable law.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in
policies of the TSX Venture 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
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https://www.newsfilecorp.com/release/145498