Class 1 Nickel and Technologies Announces Private Placement and Debt Settlement

Class 1 Nickel and Technologies Ltd., a company listed on the Canadian Securities Exchange, has announced a non-brokered private placement aimed at raising up to Cdn$300,000. This offering will consist of 2,419,354 units priced at Cdn$0.124 each, with each unit containing one common share and a half warrant. Each whole warrant allows acquisition of an additional share at Cdn$0.25 over three years. Proceeds will be used for general corporate purposes.

The company will issue 16,666,666 shares at Cdn$0.12 each to clear Cdn$2,000,000 in debt. David Fitch, an insider, will acquire all shares related to this debt transaction. This deal is exempt from certain regulatory requirements under MI 61-101 due to its limited scale versus the company’s market cap.

Both transactions require approval from the Canadian Securities Exchange. Shares issued will have a hold period of four months and one day.