00:50:44 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



1844 Resources Inc
Symbol EFF
Shares Issued 64,519,258
Close 2022-05-03 C$ 0.08
Market Cap C$ 5,161,541
Recent Sedar Documents

1844 Resources arranges $1.25M prospectus offering

2022-05-04 13:07 ET - News Release

Mr. Sylvain Laberge reports

1844 ANNOUNCES SHORT FORM PROSPECTUS OFFERING OF UP TO $1,250,000

1844 Resources Inc. has entered into an agreement with Leede Jones Gable Inc. in connection with a short form prospectus offering of up to 15,625,000 common shares in the capital of the company at a price of eight cents per common share to raise aggregate gross proceeds of up to $1.25-million. The offering is being made by the agent and members of its selling group, on a commercially reasonable agency basis, and is expected to close on or about May 31, 2022.

The company will pay the agent a cash commission of 8 per cent of the gross proceeds of the offering, subject to a reduced cash commission of 4 per cent of the gross proceeds of the offering being payable on sales to certain members of the president's list, including on any proceeds realized on the exercise of the overallotment option (as defined herein). Additionally, the company will grant to the agent a number of non-transferable options to purchase up to 8 per cent of the common shares sold pursuant to the offering, subject to a limit of 4 per cent on president's list sales, including on any common shares sold pursuant to the exercise of the overallotment option. The company will also pay the agent a corporate finance fee of $25,000.

The agent has been granted an option, exercisable in whole or in part, at any time for a period of 30 days after and including the closing date, to acquire from the company an additional 15 per cent of the common shares offered under the offering.

The common shares will be offered by way of a short form prospectus in the provinces of British Columbia, Alberta, Saskatchewan, Ontario and Quebec. Closing of the offering remains subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities. The net proceeds of the offering will be used for continuing exploration expenditures on the company's properties and general corporate purposes.

About 1844 Resources Inc.

1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions, Gaspe, Chibougamau, Que. With a dedicated management team, the company's goal is to create shareholder value through the discovery of new deposits.

We seek Safe Harbor.

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