1844 Resources Announces Final Closing of Strategic Financing Round

Executive Summary

• 1844 Resources completed the final tranche of its previously announced non‑brokered private placement, issuing 12,676,633 units for gross proceeds of $190,149.50.
• Combined with the initial closing, total units issued now equal 26,372,633, generating cumulative gross proceeds of $395,589.50, strengthening the company’s balance sheet and funding its Vortex/Sullipek copper project.
• An insider subscribed for 800,000 units; the transaction qualifies as a related‑party exemption under MI 61‑101, with a material change report to be filed.

Key Details

• Units Issued (Final Tranche): 12,676,633 units
• Gross Proceeds (Final Tranche): $190,149.50
• Unit Composition: 1 common share + 1 common‑share purchase warrant (exercise price $0.05, 24‑month term)
• Cumulative Units Issued: 26,372,633 units (initial + final tranches)
• Cumulative Gross Proceeds: $395,589.50
• Insider Participation: 800,000 units subscribed by an insider; treated as a related‑party transaction under MI 61‑101 with exemption applied.
• Finder’s Fees Paid: $420.00 (7% of gross proceeds raised through the finder)
• Statutory Hold Period: Securities subject to a four‑month plus one day hold, expiring June 7, 2026.
• Use of Net Proceeds: General corporate purposes and advancement of the flagship Vortex/Sullipek copper project in Gaspé Peninsula, Québec.

Notable Quotes

“This Final Tranche strengthens our financial position and provides added flexibility to advance our exploration at our flagship Vortex Project in the Gaspé Peninsula, Québec,” – Sylvain Laberge, President & CEO.