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1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844") is pleased to announce that it has completed the first tranche closing of its previously announced non-brokered private placement (the "Offering"), originally announced on July 14, 2026.
Pursuant to the first closing, the Company issued:
- 14,490,000 Flow-Through Units (the "Flow-Through Units") at a price of $0.035 per Flow-Through Unit for gross proceeds of $507,150; and
- 3,831,666 Hard Dollar Units (the "Hard Dollar Units") at a price of $0.03 per Hard Dollar Unit for gross proceeds of approximately $114,950.
The aggregate gross proceeds raised in the first closing total approximately $622,100.
Each Flow-Through Unit consists of one common share of the Company (a "Share") to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) and one-half of Share purchase warrant (each whole warrant, a "Warrant"). Each Hard Dollar Unit consists of one Share and one-half of one Warrant. Each Warrant entitles the holder to acquire one additional Share (a "Warrant Share") at an exercise price of $0.05 per Warrant Share (the "Exercise Price") for a period of 24 months from the date of issuance, subject to the policies of the TSX Venture Exchange (the "TSXV").
All of the gross proceeds from the sale of the Flow-Through Units will be used to incur eligible Canadian exploration expenses that qualify as critical minerals flow-through mining expenditures, including a planned 3,000-metre diamond drilling program at the Company's Sullipek East copper project located in the Gaspé Peninsula of Québec.
Among other costs, the Company will use the net proceeds from the Hard Dollar Units as follows: (i) 40% will be used for general working capital and corporate purposes; (ii) 30% will be used for supporting the Company's exploration activities, (iii) 20% will be used to pay finder's fees and expenses associated with the Offering, and (iv) 10% will be used for Investor relations and marketing.
In connection with the first closing of the Offering, the Company paid cash finder's fees of approximately $33,355 and issued 972,999 broker warrants to eligible finders (the "Broker Warrants"). Each Broker Warrant entitles the holder to acquire one additional Share at the Exercise Price for a period of 24 months from the closing date, in accordance with applicable securities laws and the policies of the TSXV.
All securities issued pursuant to the Offering are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.
The Offering remains subject to the final acceptance of the TSXV The Company expects to complete one or more additional closings of the Offering as further subscriptions are received and approved.
About 1844 Resources Inc.
1844 Resources Inc. is a mineral exploration company focused on developing high-quality copper and critical mineral projects in the Gaspé Peninsula of Québec. The Company's flagship SV2 Project includes the Sullipek East and Sullipek copper deposits and is strategically located adjacent to major mining infrastructure in one of Canada's premier copper districts.
For further information, please contact:
1844 Resources Inc.
Sylvain Laberge
President and Chief Executive Officer
Email: Slaberge@1844resources.com
Telephone: 514-702-9841
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
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 from the Offering, the planned drilling program, future closings of the Offering, receipt of TSXV approval, and the Company's exploration plans. 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 TSXV 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.
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