1844 Increases the Non-Brokered Private Placement to up to $1,500,000 and Provides Update on Hawk Ridge Option Agreement
Saskatoon, January 4, 2024 - 1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844") is pleased to provide an update with respect to its previously announced non-brokered private placement of units (each, a "Unit") for aggregate gross proceeds of up to $1,000,000 (the "Unit Offering") and its previously announced amended and restated option agreement with Nickel North Exploration Corp. (the "Option Agreement") with respect to the Hawk Ridge property in Quebec.
The Company increases its previously announced Unit Offering of up to 50,000,000 Units to up to 75,000,000 Units for gross proceeds of up to $1,500,000. Each Unit will be comprised of one common share in the capital of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Unit Warrant"), at a price of $0.02 per Unit. Each Unit Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.05 for a period of 36 months following the closing of the Unit Offering. The Company expects to close the Option Agreement concurrently with the closing of the Unit Offering. Closing of the Unit Offering and the Option Agreement remain subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the TSX Venture Exchange (the "Exchange").
None of the securities issued in the Unit Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
About 1844 Resources Inc.: 1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions "Gaspé, Nunavik Québec". With a dedicated management team, the Company's goal is to create shareholder value through the discovery of new deposits.
(signed) "Sylvain Laberge"
Sylvain Laberge
President and CEO
514.702.9841
Slaberge@1844resources.com
FORWARD-LOOKING INFORMATION
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the expected closings of the Unit Offering and the Option Agreement and the receipt of regulatory approval, including approval by the Exchange. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: general business and economic conditions; the availability of additional exploration and mineral project financing; and Exchange approval.
There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include exploration or other risks detailed from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.
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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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