Business
1844 Announces a Non-Brokered Private Placement of Flow-Through Units, Extends the Previously Announced Private Placement of $2,000,000 and Provides Update Regarding Option Agreement
Saskatoon, Saskatchewan--(Newsfile Corp. - September 23, 2023) - 1844 RESOURCES Inc. (TSXV: EFF)...
About this update from 1844 Resources Inc
[{"type":"text","content":"1844 Announces a Non-Brokered Private Placement of Flow-Through Units, Extends the Previously Announced Private Placement of $2,000,000 and Provides Update Regarding Option AgreementSaskatoon, Saskatchewan--(Newsfile Corp. - September 23, 2023) - 1844 RESOURCES Inc. (TSXV: EFF) (the \"Company\" or \"1844\") announces a non-brokered private placement of 11,111,111 flow-through units (the \"FT Units\") at $0.045 per FT Unit for gross proceeds of $500,000 (the \"FT Unit Offering\"). Each FT Unit will consist of one common share of the Company to be 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 will entitle the holder thereof to purchase one non-flow-through common share of the Company (each, an \"FT Unit Warrant Share\") at a price of $0.055 for a period of 36 months following the date of issuance.The Company intends to use the proceeds of the FT Unit Offering for exploration activities and for general corporate purposes. 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\").The closing of the FT Unit Offering is subject to receipt of all necessary regulatory approvals, including the TSX Venture Exchange (the \"Exchange\"). Any finder's fees to be paid by the Company will be payable in accordance with the policies of the Exchange. The FT Shares, FT Unit Warrant Shares and any common shares of the Company that are issuable upon the exercise of any finder's warrants will be subject to a hold period ending on the date that is four months plus one day following the issue date in accordance with applicable securities laws.The securities offered in the FT Unit Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securit...