1844 Provides Update on Shares for Debt Settlement
1844 Provides Update on Shares for Debt
Settlement
Saskatoon, Saskatchewan--(Newsfile Corp. - October 3, 2025) -
1844 Resources Inc. (TSXV: EFF)
(the "
Company
" or "
1844
") announces that it has amended the previously announced shares for debt
agreements (see Press Release dated April 2, 2025) with certain arm's length creditors and two
companies owned by directors of the Company (collectively, the "
Creditors
").
The amended
agreements settle debts in an aggregate amount of $413,067
[1]
in relation to services provided by the
Creditors to the Company by the issuance of 3,596,936 common shares in the capital of the Company
(the "
Shares
") at a deemed price of $0.05 per Share (the "
Debt Settlement
").
The Company also announces an agreement to settle debts of $195,556 for services provided by an
arm's length creditor by the issuance of 1,758,687 common shares in the capital of the Company at a
deemed price of $0.11 per Share (collectively with the Debt Settlement, the "Debt Settlements").
All the Shares issued in connection with the Debt Settlements will be subject to a statutory hold period of
four months plus a day from the date of issuance in accordance with applicable securities legislation.
Closing of the Debt Settlement is subject to a number of conditions, including receipt of all necessary
corporate and regulatory approvals, including the TSX Venture Exchange.
About 1844 Resources Inc.:
1844 is an exploration company with a focus in strategic and energetic
metals and underexplored regions "Gaspé, 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 may contain forward-looking statements. All statements, other than statements of
historical fact, constitute "forward-looking statements" and include any information that addresses
activities, events or developments that the Company believes, expects or anticipates will or may occur in
the future including the Company's strategy, plans or future financial or operating performance and other
statements that express management's expectations or estimates of future performance.
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.
[1]
$137,500 of $370,720 owing to two companies owned by two directors of the Company is being settled through Shares at a deemed price of
$0.05 per Share. The remainder of the balance, $233,220, has been written off.
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