Class 1 Nickel and Technologies Completes Private Placement and Debt Offering

Class 1 Nickel and Technologies Ltd. has finalized its non-brokered private placement, issuing 2,588,224 units at Cdn$0.124 each, raising gross proceeds of Cdn$320,939. Each unit comprises one common share and a half common share purchase warrant, allowing the acquisition of one additional share at Cdn$0.25 within three years.

The company also concluded a share for debt transaction, issuing 16,666,666 shares at a deemed price of Cdn$0.12 per share to settle Cdn$2,000,000 in outstanding debt. This transaction, involving company insider David Fitch, falls under related party transactions regulations, with relevant exemptions applied.

Securities from both transactions are under a hold period until October 2026, pending final approval from the Canadian Securities Exchange.