1844 Resources Inc. has completed the first tranche closing of its non-brokered private placement, raising gross proceeds of approximately $622,100 to fund exploration at its copper assets in Quebec.

Under the first tranche, 1844 Resources issued 14,490,000 flow-through units at $0.035 per unit for gross proceeds of $507,150, alongside 3,831,666 hard dollar units priced at $0.03 each for gross proceeds of approximately $114,950. Each unit consists of one common share and one-half of a share purchase warrant, with each whole warrant entitling the holder to acquire an additional common share at an exercise price of $0.05 for 24 months, subject to TSX Venture Exchange policies.

Gross proceeds from the flow-through units are earmarked for eligible Canadian exploration expenses, including a planned 3,000-metre diamond drilling program at the Sullipek East copper project located in the Gaspé Peninsula. Proceeds from the hard dollar units will be allocated toward general working capital (40%), exploration support (30%), finder's fees and expenses (20%), and investor relations and marketing (10%). In connection with the closing, the company paid cash finder's fees of approximately $33,355 and issued 972,999 broker warrants carrying the same 24-month term and $0.05 exercise price.

All securities issued under the offering are subject to a statutory hold period of four months and one day. The offering remains subject to final acceptance by the TSX Venture Exchange, and 1844 Resources expects to complete one or more additional closings of the offering as further subscriptions are received and approved.

Activity in the Gaspé Peninsula district includes drilling by Osiski Metals, which reported intercepts including 320 metres averaging 0.38% copper at its Gaspé project in July 2026. 1844 Resources' flagship SV2 Project includes the Sullipek East and Sullipek copper deposits, positioned adjacent to major mining infrastructure in the district.

Read the full announcement: 1844 Resources Announces First Tranche Closing of Non-Brokered Private Placement