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1844 Announces First Closing of Non-brokered Private Placement

 

1844 RESOURCES Inc. (TSX-V:EFF) (the " Company " or " 1844 ") announces, further to its news release of June 24, 2021, that it has closed the first tranche of the non-brokered private placement of common shares in the capital of the Company (the " Shares ") at $0.05 per Share (the " Offering ") by the issuance of 7,500,000 Shares for gross proceeds of $375,000. Management and insider have participated for 8% of the first closing of the Offering.

 

In connection with the closing of the first tranche of the Offering, the Company has paid cash finders' fees of $13,900.00, being up to 8% of the aggregate proceeds from the sale of Shares to purchasers introduced by the finders and issued 140,000 non-transferable share purchase warrants (the " Finder's Warrants "), being 4% of the number of Shares sold under the Offering to purchasers introduced by the finders. Each Finder's Warrant entitles the holder thereof to purchase one Share at a price of $0.05 per Share until June 29, 2022. The securities issued under closing are subject to a four month and a day hold period ending on October 30, 2021.

 

The net proceeds received from the Offering will be used by the Company for exploration expenditure in the Province of Quebec and for general working capital. The Company will be proceeding with the second tranche of the Offering.

 

  About 1844 Resources Inc.: 1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions "Gaspé, Chibougamau 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@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. 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.

 

 

 

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