1844 Closes Non-Brokered Private Placement of Units

1844 Closes Non-Brokered Private Placement of Units

1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844"), is pleased to announce it has closed its previously announced non-brokered private placement of units (each, a "Unit"). At closing, the Company issued 14,117,500 Units at a price of $0.02 per Unit for aggregate gross proceeds of $282,350 (the "Unit Offering").

Each Unit is comprised of one common share in the capital of the Company (a "Common Share") and one-half of one Common Share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.05 for a period of 36 months following closing of the Unit Offering.

The Company plans to use the net proceeds of the Unit Offering for exploration on existing properties and potential acquisitions, expenses incurred with respect to investor relations and market making activities, and for general working capital. Proceeds allocated to expenses incurred with respect to investor relations and market making activities will not exceed 10% of the gross proceeds of the Unit Offering. No finders' fees were paid in connection with the Unit Offering.

Certain insiders of the Company, (collectively, the "Insiders") subscribed to the Unit Offering for an aggregate of 2,500,000 Units. Such issuance of Units to the Insiders constitutes a "related party transaction", as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on an exemption from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to section 5.5(a) and section 5.7(1)(a) of MI 61-101, on the basis that the participation in the Unit Offering by the Insiders does not exceed 25% of the fair market value of the Company's market capitalization. A material change report will be filed in connection with the participation of the Insiders in the Unit Offering less than 21 days in advance of the closing of the Unit Offering, which the Company considers reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and to complete the Unit Offering in an expeditious manner. The securities issued under the Unit Offering, including Common Shares issued upon the exercise of the Warrants, are subject to a hold period expiring July 28, 2024.

In connection with obtaining the Exchange's approval for the Unit Offering, the Company seeks to correct its disclosure record with respect to an advertising campaign agreement dated January 12, 2023 (the "INN Agreement"), with Dig Media Inc. d.b.a. Investing News Network ("INN"). INN is a private company headquartered in Vancouver, Canada, dedicated to providing news and education to investors. During the 12-month term of the INN Agreement, INN undertook an advertising campaign to increase awareness of the Company, which involved, among other things, a profile on the Company in INN's newsletter, news release syndication, banner advertising and dedicated emails for news releases. As consideration for the advertising campaign, the Company will pay INN an aggregate of $40,000 in cash, with $25,000 invoiced by INN on April 12, 2023, and $7,500 invoiced by INN on July 30, 2023, and October 30, 2023. As of the date of the INN Agreement, INN held nil common shares in the capital of the Company (each, a "Common Share") and no securities convertible or exchangeable into additional Common Shares.

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.

1844 Resources Inc.

(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 use of proceeds of the Unit Offering and a payment to INN by the Company. 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203375

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1844 Receives Final Payment for Sale of Lac Arsenault Project

1844 Receives Final Payment for Sale of Lac Arsenault Project

1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844") is pleased to provide an update with respect to its previously announced sale (the "Transaction") of the Lac Arsenault project to Canadian Gold Resources Ltd. (the "Purchaser"). Pursuant to the terms of the Transaction, the Purchaser paid 1844 Six Hundred Thousand Canadian Dollars (CAN$600,000.00) as follows:

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With the termination of the Amended and Restated Option Agreement, the Company now intends to use the aggregate gross proceeds of up to $1,500,000 from its previously announced non-brokered private placement of up to 75,000,000 units (each, a "Unit) at a price of $0.02 per Unit (the "Unit Offering") for general and administrative expenses and for other properties in the Company's portfolio. The Company expects to close the Unit Offering on or about March 8th, 2024, subject to TSX Venture ("TSX-V") approval.

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1844 Gives Update on Non-Brokered Private Placement of Units

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1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844"), as previously announced, the Company has entered into an amended and restated option agreement with Nickel North Exploration Corp. (the "Option Agreement") with respect to the Hawk Ridge property in Quebec. In connection with the Option Agreement the Company previously announced a non-brokered private placement of up to 75,000,000 units (each, a "Unit") at a price of $0.02 per Unit for aggregate gross proceeds of up to $1,500,000 (the "Unit Offering"). The Company is proceeding with the Unit Offering and expects to close the Unit Offering concurrently with the closing of the Option Agreement. 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").

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1844 Increases the Non-Brokered Private Placement to up to $1,500,000 and Provides Update on Hawk Ridge Option Agreement

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/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

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FPX Nickel Announces Expansion to Generative Alliance with JOGMEC

FPX Nickel Announces Expansion to Generative Alliance with JOGMEC

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce an expansion of the Company's Global Generative Alliance (the " Generative Alliance ") program with Japan Organization for Metals and Energy Security (" JOGMEC "). Building on Year One progress and positive momentum achieved to-date, FPX and JOGMEC have agreed to an expanded Year Two budget. The program will remain focused on the global identification and acquisition of high-quality awaruite nickel properties similar in geological character to the Company's flagship Baptiste Nickel Project (" Baptiste ") in central British Columbia.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

Highlights

  • Global Generative Alliance budget increased from initially planned $650,000 to $1,500,000 for Year Two
  • Through ongoing evaluations in five international and three Canadian jurisdictions, the Generative Alliance program remains on track to define Designated Projects to be joint ventured by FPX and JOGMEC starting in Year Two
  • The Generative Alliance program has staked approximately 120 km 2 of prospective ground in British Columbia

"We are pleased with our progress during Year One of our Generative Alliance with JOGMEC and look forward to increasing momentum through a significantly expanded Year Two budget," commented Andrew Osterloh , FPX's Senior Vice-President of Projects and Operations. "Our shared vision of realizing new globally significant awaruite nickel deposits remains resolute, and with ongoing evaluations in multiple Canadian and International jurisdictions, we are on track to achieve our shared objective of defining Designated Projects starting in Year Two."

A JOGMEC representative commented: "JOGMEC has decided to increase funding for Year Two activities with a view to identifying significant new awaruite deposits, which could be a globally significant, low-carbon, source of nickel for the electric vehicle battery supply chain toward the realization of a carbon-neutral society."

In April 2023 , FPX and JOGMEC initiated a Generative Alliance to carry out mineral exploration activities for the identification and acquisition of high-quality awaruite nickel targets on a worldwide basis. Under the terms of the agreement, JOGMEC funded 100% of the $650,000 budget in Year One (covering the year ended March 31, 2024 ) and will fund 100% of the first $650,000 budgeted for Year Two (for the year ended March 31, 2025 ).

Building on Year One progress and the positive results of work completed to-date, FPX and JOGMEC have agreed to expand the Year Two budget to a total of $1,500,000 . Under the terms of the agreement for Year Two, after JOGMEC has funded a cumulative total of $1,300,000 , the parties will fund ensuing exploration activities on pro-rata basis (FPX 40% and JOGMEC 60%).

Subject to agreement between FPX and JOGMEC, one or more specific targets identified by the Generative Alliance may be advanced to a second phase to be further developed as a separate designated project (" Designated Project "). Each Designated Project will have its own work program and budget with the objective, of testing and further developing the identified targets. For each Designated Project, JOGMEC and FPX will respectively fund 60% and 40% for approved work programs.

During Year One of the Generative Alliance, FPX's exploration team conducted evaluations and/or sampling programs in five international and three Canadian jurisdictions. With multiple evaluations ongoing, and further prospective opportunities identified, the program is on track to identify Designated Projects in its second year.

Representing the first ground staked under the Generative Alliance, the Company is pleased to announce the acquisition of approximately 120 km 2 of new mineral claims in British Columbia. This staking was based on historic sampling by FPX coupled with updated geological interpretation based on FPX's learnings at Baptiste.

The Company is currently strategizing on additional mineral tenure acquisitions within British Columbia , elsewhere in Canada , and in multiple international jurisdictions across multiple continents; one or more of such land packages may ultimately be selected as a Designated Project under the terms of the Generative Alliance. As and when Designated Projects are confirmed, FPX will provide additional disclosure regarding the location and planned work programs for such Projects.

Keith Patterson , P.Geo., FPX's Vice President, Generative Exploration, FPX's Qualified Person under NI 43-101, has reviewed and approved the scientific and technical content of this news release.

About the Decar Nickel District

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 245 km 2 west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of the Tl'azt'en Nation and Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2024/18/c3991.html

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