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1844 Resources Inc. (TSXV: EFF,OTC:EFRSF) ("1844" or the "Company") The Company wishes to provide an update regarding its Option Agreement with Nickel North. The Company and Nickel North Exploration Corp announces that the Option Agreement dated December 10, 2024, has been terminated. Both companies have expressed interest in continuing discussions and may begin negotiations toward a new Option Agreement.
The updated National Instrument 43-101 on the Hawkridge property has been filed with the TSX-V.
Grant of Stock Options
The Company has granted an aggregate of 1,000,000 stock options to its directors. Mr. Mathieu Olivier and Mr. André Gauthier, who both joined the Board of Directors in 2024, have each been granted 500,000 options.
The options are exercisable at a price of $0.05 per share for a period of five (5) years from the date of grant. They will vest one (1) year following the date of grant and remain subject to regulatory approval and applicable policies.
The grant of options to certain directors and officers is a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party matters, as the Company is listed on the TSX Venture Exchange ("TSXV") and neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101).
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@1844 Resources.com
FORWARD-LOOKING INFORMATION
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control, including without limitation, obtaining regulatory approval for the Offering and the Offering being fully subscribed. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
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.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
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