Class 1 Nickel Issues Shares to Maintain Somanike Property Option
Class 1 Nickel Issues Shares to Maintain Somanike Property Option
Toronto, ON, August 20, 2020. Class 1 Nickel and Technologies Limited (“ Class 1 Nickel ” or the
“Company” ) ( C S E : N I C O ) , a C a n a d i a n c o m p a n y a i m i n g t o d e v e l o p n i c k e l - c o pper-cobalt sulphide
deposits 45km northeast of Timmins, Ontario, today announces the issuance of 130,769 common shares
in the capital of the Company (“ Common Shares”) at a price of $0.65 per Common Share, being the
closing price of the Common Shares on the date of issuance. The issuance of Common Shares maintains
the Company’s option to earn a 100% undivided interest from Que bec Precious Metals Corporation
(“QPM”) in the Somanike Property, an exploration stage property consisting of 5146.06 hectares located
in La Motte, Quebec. A copy of the option agreement concerning the Somanike Property dated April 27,
2020 (the “Option Agreement”) was filed under Class 1 Nickel’s SEDAR profile at www.sedar.com on
August 14, 2020. The shares issued are subject to a four month hold period.
Future consideration payable by Class 1 Nickel to QPM to earn its 100% undivided interest in and to the
Somanike Property includes $25,000 in Common Shares due on or before June 15, 2022 and $50,000 in
Common Shares due on or before June 15, 2023 (collectively, the “Future Option Payments ”). The
value of the Common Shares payable under the Future Option Paym ents will be determined using the
volume weighted average price of the Common Shares traded on th e Canadian Securities Exchange
calculated over the 10 trading days prior to the issue date of Future Option Payments.
About Class 1 Nickel and Technologies Limited
Class 1 Nickel and Technologies Limited (CSE: NICO) is a mineral resource company focused on
the development of its 100% owned Alexo-Dundonald Project, a portfolio of komatiite hosted magmatic
nickel-copper-cobalt sulphide projects located near Timmins, Ontario.
For more information, please contact:
Benjamin Cooper, President
T: 416.454.0166
For additional information please visit our new website at www.class1nickel.com and our Twitter feed:
@Class1Nickel.
This news release contains forward-looking information which is not comprised of historical facts.
Forward-looking information is c haracterized by words such as “ plan”, “expect”, “project”, “intend”,
“believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions
“may” or “will” occur. Forward-looking information involves ris ks, uncertainties and other factors that
could cause actual events, results, and opportunities to differ materially from those expressed or implied
by such forward-looking information. Factors that could cause actual results to differ materially from such
forward-looking information incl ude, but are not limited to, c hanges in the state of equity and debt
m a r k e t s , f l u c t u a t i o n s i n c o m m o d i t y p r i c e s , d e l a y s i n o b t a i n i n g required regulatory or governmental
approvals, and other risks involved in the mineral exploration and development industry, including those
risks set out in the Company’s Filing Statement dated August 14 , 2020 as filed under the Company’s
profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and
assumptions of management considered reasonable as of the date hereof, including that all necessary
governmental and regulatory approvals will be received as and w hen expected. Although the Company
believes that the assumptions and factors used in preparing the forward-looking information in this news
release are reasonable, undue reliance should not be placed on such information. The Company disclaims
any intention or obligation to u pdate or revise any forward-loo king information, other than as required
by applicable securities laws.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this
news release.