Mr. Sylvain Laberge reports
1844 INCREASES THE NON-BROKERED PRIVATE PLACEMENT TO UP TO $1,500,000 AND PROVIDES UPDATE ON HAWK RIDGE OPTION AGREEMENT
1844 Resources Inc. has provided an update with respect to its previously announced non-brokered private placement of units for aggregate gross proceeds of up to $1-million and its previously announced amended and restated option agreement with Nickel North Exploration Corp. with respect to the Hawk Ridge property in Quebec.
The company has increased its previously announced unit offering of up to 50 million units to up to 75 million units for gross proceeds of up to $1.5-million. Each unit will comprise one common share in the capital of the company and one-half of one common share purchase warrant, at a price of two cents per unit. Each unit warrant will entitle the holder thereof to acquire one common share at a price of five cents for a period of 36 months following the closing of the unit offering. The company expects to close the option agreement concurrently with the closing of the unit offering. Closing of the unit offering and the option agreement remain subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the TSX Venture Exchange.
About 1844 Resources Inc.
1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions Gaspe, Nunavik, Que. With a dedicated management team, the company's goal is to create shareholder value through the discovery of new deposits.
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