The Canadian exploration firm will issue up to $1M in flow-through and hard dollar units to fund operations.
1844 Resources announced a non-brokered private placement to raise up to $1M in gross proceeds. The offering includes $500,000 of flow-through units and $500,000 of hard dollar units.
The company plans to use the funds for exploration and development activities. No prior private placement of this size was disclosed in recent filings. Terms of the units, including pricing and use of proceeds, were not specified in the announcement.
Shares of 1844 Resources (EFF:CA) remained unchanged in early trading following the announcement.