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1844 Resources Inc. Announces Equity Unit Financing, Provides Update on Market-Making Agreement and Announces Extension of Option Agreement with Nickel North
Vancouver, British Columbia--(Newsfile Corp. - May 1, 2025) - 1844 Resources Inc. (TSXV: EFF) ("1...
About this update from 1844 Resources Inc
[{"type":"text","content":"1844 Resources Inc. Announces Equity Unit Financing, Provides Update on Market-Making Agreement and Announces Extension of Option Agreement with Nickel NorthVancouver, British Columbia--(Newsfile Corp. - May 1, 2025) - 1844 Resources Inc. (TSXV: EFF) (\"1844\" or the \"Company\") announces that it is undertaking a non-brokered private placement of up to 30,000,000 units of the Company (the \"Units\") at a price of $0.025 per Unit for aggregate gross proceeds of up to $750,000 (the \"Offering\").Each Unit will consist of one common share of the Company (a \"Common Share\") and one common share purchase warrant (a \"Warrant\"), with each Warrant exercisable to acquire one Common Share at a price of $0.05 for a period of 24 months following the closing date of the Offering.The proceeds of the Offering will be used to make the initial option payment under the previously announced option agreement (the \"Option Agreement\") with Nickel North Exploration Corp. (\"Nickel North\") with respect to the Hawk Ridge nickel/copper project located in northeastern Quebec (the \"Option Agreement\") and for general working capital purposes. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange (the \"Exchange\"). The Option Agreement remains subject to Exchange approval.[1]In connection with the Offering, the Company may pay finder's fees to certain eligible arm's length parties in accordance with the polices of the Exchange in consideration for their efforts in introducing subscribers to the Company.All securities issued in connection with the Offering will be subject to a hold period of four months and a day from the date of issuance pursuant to applicable Canadian securities laws.It is anticipated that insiders of the Company may participate in the Offering, and such Units issued to insiders will be subject to a four month hold period pursuant to applicable policies of the Exchange. The issuance of Units to any insiders will be considered a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). In respect of any such insider participation, the Company expects to rely on exemptions from the formal valuation requireme...