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1844 Announces Private Placement for Gross Proceeds of Up To $1,000,000 and Amendment to Flow-Through Financing for Gross Proceeds of Up To $300,000
Saskatoon, Saskatchewan--(Newsfile Corp. - November 10, 2023) - 1844 RESOURCES Inc. (TSXV: EFF) ...
About this update from 1844 Resources Inc
[{"type":"text","content":"1844 Announces Private Placement for Gross Proceeds of Up To $1,000,000 and Amendment to Flow-Through Financing for Gross Proceeds of Up To $300,000Saskatoon, Saskatchewan--(Newsfile Corp. - November 10, 2023) - 1844 RESOURCES Inc. (TSXV: EFF) (the \"Company\" or \"1844\") announces amendments to the terms of its (i) non-brokered private placement of units (each, a \"Non-FT Unit) previously announced on April 12, June 9, July 20 and September 23, 2023 (the \"Non-FT Unit Offering\") and (ii) non-brokered private placement of flow-through units (each, an \"FT Unit\") previously announced on September 23, 2023 (the \"FT Unit Offering\" and, together with the Non-FT Unit Offering, the \"Offerings\").Pursuant to the amended terms of the Non-FT Unit Offering, the Company will issue up to 50,000,000 Non-FT Units at a price of $0.02 per Non-FT Unit for aggregate gross proceeds of up to $1,000,000. Each Non-FT Unit will consist of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Non-FT Unit Warrant\"). Each whole Non-FT Unit Warrant will entitle the holder thereof to acquire one non-flow-through Common Share (a \"Warrant Share\") at an exercise price of $0.05 per Warrant Share for a period of 36 months following the closing of the Non-FT Unit Offering. 1844 intends to use the net proceeds from the Non-FT Unit Offering in connection with its option to acquire the Hawk Ridge Project, for exploration on the Hawk Ridge Project and for general corporate purposes.Pursuant to the amended terms of the FT Unit Offering, the Company will issue up to 11,111,111 FT Units at a price of $0.03 per FT Unit for aggregate gross proceeds of up to $300,000. Each FT Unit will consist of one Common Share, 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 acquire one Warrant Share at a price of $0.05 for a period of 36 months following the closing of the FT Unit Offering. 1844 intends to use the net proceeds of the FT Unit Offering for exploration activities and for general corporate purposes. The net proceeds from the issuance of the FT Shares will be used...