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1844 Resources Inc. (TSXV: EFF,OTC:EFRSF) (the "Company" or "1844") announces that it has amended the previously announced shares for debt agreements (see Press Release dated April 2, 2025) with certain arm's length creditors and two companies owned by directors of the Company (collectively, the "Creditors"). The amended agreements settle debts in an aggregate amount of $413,067[1] in relation to services provided by the Creditors to the Company by the issuance of 3,596,936 common shares in the capital of the Company (the "Shares") at a deemed price of $0.05 per Share (the "Debt Settlement").
The Company also announces an agreement to settle debts of $195,556 for services provided by an arm's length creditor by the issuance of 1,758,687 common shares in the capital of the Company at a deemed price of $0.11 per Share (collectively with the Debt Settlement, the "Debt Settlements").
All the Shares issued in connection with the Debt Settlements will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
Closing of the Debt Settlement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange.
About 1844 Resources Inc.: 1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions "Gaspé, 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@1844 resources.com
FORWARD-LOOKING INFORMATION
This press release may contain forward-looking statements. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.
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.
[1] $137,500 of $370,720 owing to two companies owned by two directors of the Company is being settled through Shares at a deemed price of $0.05 per Share. The remainder of the balance, $233,220, has been written off.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269017
