1844 Announces Second and Final Closing of Non-Brokered Private Placement
SASKATOON, Saskatchewan, July 09, 2021 (GLOBE NEWSWIRE) — 1844 RESOURCES Inc. (TSX-V:EFF) (the “Company” or “1844”) announces further to its news releases of June 24 and June 30, 2021, that it has closed the second 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 2,500,000 Shares for gross proceeds of $125,000. Management and insider have participated for 8% of the second closing of the Offering.
In connection with the second closing of the Offering, the Company didn’t pay any finders’ fees in cash or issued non-transferable share purchase warrants. The securities issued under closing are subject to a four months and a day hold period ending November 10, 2021.
The Company has raised a total proceed of $500,000, for a total of 10,000,000 shares issued under the Offering. Management and insiders have participated for 8% of the total Offering.
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.
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”
President and CEO
[email protected] 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.