From GlobeNewswire:

Class 1 Nickel and Technologies Ltd. has successfully completed a private placement, issuing convertible debentures to a total value of Cdn$400,000. The debentures have a three-year term, bear an interest rate of 2% per annum, and can be converted to common shares of the company at a deemed price of $0.05 per share. President David Fitch purchased all of the debentures. As Mr. Fitch is an insider of the company, the private placement is a “related party transaction” under Multilateral Instrument 61-101. The debentures and underlying securities are subject to a statutory hold period expiring on May 13, 2024.

Class 1 Nickel and Technologies Limited is a mineral resource company focused on developing their 100% owned Alexo-Dundonald Property, as well as other property interests in Quebec. For additional information, visit the company’s website or Twitter feed. Please note that forward-looking statements in the news release may contain substantial risks and uncertainties.



Read more: Class 1 Nickel and Technologies Ltd. Completes Private