Class 1 Nickel and Technologies Ltd. Announces Appointment of New Director

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

TORONTO, Jan. 10, 2022 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Ltd. (CSE: NICO/OTCQB: NICLF) (“Class 1 Nickel” or the “Company”) is pleased to announce the appointment of Mr. David Riekie to its board of directors, effective today.

David is an experienced director in the capacity of both Executive and Non-Executive roles of publicly listed companies. His career has spanned multiple continents. He has overseen exploration and resource development, scoping and feasibility studies, production optimization, stakeholder engagement, acquisition programs and expansion initiatives. David is currently the Executive Director of Tanzanian Nickel Explorer, Adavale Resources Limited (ASX:ADD) and has recently served on the Boards of remote power generation and energy solutions specialist Zenith Energy Limited, independent uranium producer Paladin Energy Limited and minerals explorer MetalsTech Limited. David also served as interim CEO to Poseidon Nickel Limited. David holds a Bachelor of Economics and a Graduate Diploma of Accounting from Flinders University, South Australia and has been a member of the Australian Institute of Chartered Accountants since 1986.

About Class 1 Nickel

Class 1 Nickel and Technologies Limited (CSE: NICO/OTCQB: NICLF) is a mineral resource company focused on the development of its 100% owned Alexo-Dundonald Property, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide Mineral Resources located near the City of Timmins, Ontario. The Corporation also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge Nickel Mine.

For more information, please contact:

David Fitch, President
T: +61 400.631.608
E: [email protected]

For additional information please visit our website at www.class1nickel.com and our Twitter feed: @Class1Nickel.

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks relating to prospective nature of the Corporation’s property interests.. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Class 1, including with respect to the receipt of all permits and licenses, environmental matters, results of exploration activities, increased costs, delays caused by the COVID-19 pandemic and availability of capital.. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

 

Class 1 Nickel and Technologies Ltd. Announces Closing of $1,470,000 Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

TORONTO, Dec. 31, 2021 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Ltd. (CSE: NICO/OTCQB: NICLF) (“Class 1 Nickel” or the “Company”) is pleased to announce that it has closed a non-brokered private placement (the “ Offering ”) pursuant to which it has issued an aggregate of 7,000,000 common shares (“ Shares ”) at a price of $0.21 per Share, to raise aggregate gross proceeds of $1,470,000. The net proceeds raised pursuant to the Offering will be used for working capital and exploration expenditures.

An insider of the Company purchased all of the Shares pursuant to the Offering. All securities issued pursuant to the Offering are subject to a statutory hold period expiring on May 1, 2022.

About Class 1 Nickel

Class 1 Nickel and Technologies Limited (CSE: NICO/OTCQB: NICLF) is a mineral resource company focused on the development of its 100% owned Alexo-Dundonald Property, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide Mineral Resources located near the City of Timmins, Ontario. The Corporation also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge Nickel Mine.

For more information, please contact:

David Fitch, President
T: +61 400.631.608
E: [email protected]

For additional information please visit our website at www.class1nickel.com and our Twitter feed: @Class1Nickel.

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks relating to the use of proceeds of the Offering and the prospective nature of the Corporation’s property interests.. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Class 1, including with respect to the receipt of all permits and licenses, environmental matters, results of exploration activities, increased costs, delays caused by the COVID-19 pandemic and availability of capital.. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Class 1 Nickel Announces Issuance of Shares and Option Grant to Matachewan First Nation

TORONTO, Aug. 10, 2021 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Limited (CSE: NICO/OTCQB: NICLF) (the “ Company ” or “ Class 1 Nickel ”) is pleased to announce that it has issued an aggregate of 50,000 common shares (“ Shares ”) and granted an aggregate of 50,000 stock options to the Matachewan First Nation (“ Matachewan ”), further to its previously announced memorandum of understanding with the Matachewan dated March 3, 2021 (the “ MOU ”). The stock options are each exercisable to acquire one Share at an exercise price of $0.87 until February 9, 2023, and vest as to 15% on the date of grant, 20% on September 3, 2021, 25% on March 3, 2022, and as to the remaining 40% on September 3, 2022, in each case provided that the MOU remains in force as of the applicable date.

About Matachewan First Nation

Matachewan First Nation is an historic northern Ontario First Nation community that has served as the traditional home for many First Nation families. It is still home to a growing community and the First Nation is actively taking part in partnering and working with the resource development industry in establishing mutually beneficial agreements. The First Nation also prides itself in being able to work with industry with a focus on protecting the environment and ecology on their traditional lands in northeastern Ontario. The community is located approximately 30 kms southeast of the town of Matachewan and about 60 km west of the City of Kirkland Lake, Ontario, Canada.

About Class 1 Nickel

Class 1 Nickel and Technologies Limited (CSE: NICO/OTCQB: NICLF) is a Mineral Resource Company focused on the development of its 100% owned Alexo-Dundonald Property, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide Mineral Resources located near Timmins, Ontario. The Company also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge Nickel Mine.

For more information, please contact:
David Fitch, President
T: 011 +61 400.631.608
E: [email protected]

For additional information please visit our website at www.class1nickel.com and our Twitter feed: @Class1Nickel.

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.

Class 1 Nickel and Technologies Limited Announces Stock Option Grants

TORONTO, June 11, 2021 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Ltd. (CSE: NICO) (” Class 1 ” or the ” Company “) announces that it has granted incentive stock options to directors, officers, employees and consultants of the Company to purchase an aggregate of 11,165,502 common shares under the Company’s Stock Option Plan. Each option is exercisable at a price of $0.60 per common share, vests immediately and expires three years from the date of the grant.

Class 1 Nickel and Technologies Limited (CSE: NICO) is a mineral resource company focused on the development of its 100% owned Alexo-Dundonald Project, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide resources located near Timmins, Ontario, as well as developing and exercising the option over the Somanike komatiite hosted nickel copper project in Quebec, which includes the famous Marbridge Mine.

For more information, please contact:

David Fitch, President
T: 416.454.0166
E: [email protected]

For additional information please visit our new website at www.class1nickel.com and our Twitter feed: @Class1Nickel .

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.

Class 1 Nickel and Technologies Announces Private Placement of Flow-Through Units

TORONTO , April 22, 2021 – Class 1 Nickel and Technologies Ltd. (CSE: NICO) (OTCQB: NICLF) (“ Class 1 Nickel ” or the “ Company “) is pleased to announce that it has entered into an agreement with Echelon Capital Markets (“ Echelon “), as sole agent and bookrunner, that has agreed to sell, on a “best efforts” private placement basis, a minimum of $2,000,000 of units of the Company (the “ Offering “) that will consist of common shares that will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act ( Canada ) and, with respect to those applied to the Company’s Quebec operations, section 359.1 of the Taxation Act (Québec)) (collectively, the “ Offered Securities “).

 

The Offered Securities will be issued in two tranches:

  • Tranche 1 (“ FT Tranche One “) will consist of a minimum of $2,000,000 in Offered Securities to be issued at a price of $0.60 to Canadian residents outside of Quebec (the “ FT Units “). Each FT Unit will be comprised of one common share and one common share purchase warrant (the “ FT Warrants “). Each whole FT Warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.80 for a period of 3 years following the Closing Date.
  • Tranche 2 (“ FT Tranche Two “) will consist of up to $2,000,000 in Offered Securities to be issued at a price of $0.65 to residents of Québec (“ Quebec FT Units “). Each Quebec FT Unit will be comprised of one common share and one common share purchase warrant (the “ Quebec FT Warrants “). Each whole Quebec FT Warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.85 for a period of 3 years following the Closing Date.

The Company has also granted Echelon an option to purchase up to an additional 15% of Offered Securities, in any combination of FT Units and Quebec FT Units as Echelon may determine, exercisable at any time until 48 hours prior to Closing.

 

It is anticipated that the net proceeds from the Offering will be used for exploration expenditures at the Company’s Alexo-Dundonald Project in Ontario and the Somanike Project in Quebec.

 

The gross proceeds received by the Company from the sale of the Offered Securities will be used to incur Canadian Exploration Expenses (“ CEE “) that are “flow-through mining expenditures” (as such terms are defined in the Income Tax Act ( Canada )) and, with respect to FT Tranche One, will also qualify as “eligible Ontario exploration expenditures” within the meaning of subsection 103(4) of the Taxation Act, 2007 ( Ontario ) (collectively, the “ Qualifying Expenditures “).  In addition, with respect to Québec resident subscribers who are eligible individuals under the Taxation Act (Québec), the Canadian exploration expenses will also qualify for inclusion in the “exploration base relating to certain Québec exploration expenses” within the meaning of section 726.4.10 of the Taxation Act (Québec) and for inclusion in the “exploration base relating to certain Québec surface mining expenses or oil and gas exploration expenses” within the meaning of section 726.4.17.2 of the Taxation Act (Québec).

 

The Qualifying Expenditures will be incurred on or before December 31, 2022 and will be renounced by the Company to the subscribers with an effective date no later than December 31, 2021 to the initial purchasers of the Offered Securities in an aggregate amount not less than the gross proceeds raised from the issue of the Offered Securities.  In the event that the Company is unable to renounce on or prior to December 31, 2021 and/or if the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will as sole recourse for such failure to renounce, indemnify each Offered Security subscriber for the additional taxes payable by such subscriber to the extent permitted by the Income Tax Act ( Canada ) as a result of the Company’s failure to renounce the Qualifying Expenditures as agreed.

 

Echelon will receive a cash commission (the “ Commission “) equal to 7.0% of the gross proceeds from the Offering and the Company shall issue to Echelon compensation options (the “ Compensation Options “) equal to 7.0% of the number of Offered Securities sold under the Offering.  Each Compensation Option shall entitle the holder thereof to subscribe for one common share unit (a “ Broker Unit “) at $0.60 per unit for a period of 3 years from the Closing Date.  Each Broker Unit will consist of one common share of the Company and one common share purchase Warrant, with each Warrant entitling the holder thereof to acquire one common share of the Company at a price $0.80 for a period of 3 years following the closing of the Offering.

 

The Offering is scheduled to close on or about May 19, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Canadian Securities Exchange and the securities regulatory authorities.

 

The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “ U.S. Securities Act “) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States , nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

Class 1 Nickel and Technologies Limited (CSE: NICO) is a mineral resource company focused on the development of its 100% owned Alexo-Dundonald Project, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide resources located near Timmins, Ontario , as well the Somanike komatiite hosted nickel copper project in Quebec , which includes the famous Marbridge Mine.

 

For additional information please visit our new website at www.class1nickel.com and our Twitter feed: @Class1Nickel .

 

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

 

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.

Class 1 Nickel New Director Appointment

TORONTO, March 24, 2021  — Class 1 Nickel and Technologies Ltd. (CSE: NICO/OTCQB: NICLF) (“Class 1 Nickel” or the “Company”) is pleased to announce the appointment of Mr. Mathew Fitch as a director of the Company. Mr Mathew Fitch’s appointment further strengthens the Company’s Board of Directors and management team.

 

Mathew Fitch is a co-founder of Fusion Capital, which incorporates Bustech Group, Brabham Automotive, HeliostatSA and EVANT. Bustech Group is Australia’s largest privately owned manufacturer of diesel, electric and hydrogen Buses.

 

His ownership interest is spread across the Hospitality, Advanced Manufacturing, Automotive, Property and Development Sectors. His background as a Financial Accountant for both Bentleys & KPMG provided a strong platform to undertake his previous role of Chief Financial Officer and Joint Managing Shareholder of the Fitch Group – a group of companies with assets in excess of $250 million spread across the commercial and residential property, manufacturing, retail, hotel and childcare industries in Australia.

 

Both Mr. Mathew Fitch and Mr. David Fitch also have investments in the mineral resources sector.

 

“With a wealth of hands-on experience ranging from boardroom level to the office floor, Mathew brings an invaluable understanding of international business, manufacturing and financial management to the Company,” said Class 1 Nickel’s President Mr. David Fitch.

 

Class 1 Nickel and Technologies Limited (CSE: NICO) is a mineral resource company focused on the development of its 100% owned Alexo-Dundonald Project, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide resources located near Timmins, Ontario, as well the Somanike komatiite hosted nickel copper project in Quebec, which includes the famous Marbridge Mine.

 

For more information, please contact:

David Fitch, President
T: +61 400 631 608
E: [email protected]

 

For additional information please visit our new website at www.class1nickel.com and our Twitter feed: @Class1Nickel .

 

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.

Class 1 Nickel Announces Director Change

TORONTO, March 22, 2021 — Class 1 Nickel and Technologies Limited. (CSE: NICO) (” Class 1 ” or the ” Company “) announces that Mr. Ben Cooper has resigned from the Board of Directors of the Company. Mr. Cooper will be focusing his time responding to and defending against allegations that have been made against him in Australia by ASIC. Mr. David Fitch has been appointed as President to replace Mr. Cooper.

 

“I would like to thank Ben for his contribution to the Company during this pivotal time. We wish him well on his future endeavors,” stated David Fitch, President of Class 1.

 

Class 1 Nickel and Technologies Limited (CSE: NICO) is a mineral resource company focused on the development of its 100% owned Alexo-Dundonald Project, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide resources located near Timmins, Ontario, as well as developing and exercising the option over the Somanike komatiite hosted nickel copper project in Quebec, which includes the famous Marbridge Mine.

 

For more information, please contact:

David Fitch, President
T: +61400631608
E: [email protected]

 

For additional information please visit our new website at www.class1nickel.com and our Twitter feed: @Class1Nickel.

 

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.

 

Class 1 Nickel Signs Memorandum of Understanding with Matachewan First Nation for Alexo-Dundonald Nickel Sulphide Project

Toronto, Ontario (March 11, 2021) – Class 1 Nickel and Technologies Ltd. (CSE: NICO/OTCQB: NICLF) (“Class 1 Nickel” or the “Company”) and Matachewan First Nation (“MFN”) are delighted to announce the signing of a Memorandum of Understanding (“MOU”) between the two parties. The MOU was signed to advance responsible exploration and development of the Alexo-Dundonald Nickel Sulphide Project, 45 km east of the City of Timmins, Ontario, Canada.

The signed MOU means that Class 1 Nickel recognizes the traditional values of the MFN and commits the Company to consult and establish a mutually beneficial cooperative and productive relationship to advance the Alexo-Dundonald Nickel Project. The agreement also provides MFN opportunity to participate in the benefits of the Project through business opportunities, employment and training, financial compensation, and consultation on environmental matters.

“Class 1 Nickel proactively reached out to MFN as a traditional land holder in the Alexo-Dundonald Property area and engaged them in early dialogue on how the Project and associated infrastructure will be responsibly explored and developed,” said Ben Cooper, President of Class 1 Nickel. “We are very pleased for the signed MOU with MFN and welcome their constructive consultation and strong support as Class 1 Nickel plans to commence its Phase 1 drill program on the Project.”

“Matachewan First Nation would like to commend Class 1 Nickel on their early engagement and consultation activities with the Matachewan First Nation,” said Chief Jason Batisse. “It’s always a pleasure to work with mineral development companies on our traditional territory who respect and acknowledge not only our way of life but also the importance of building a meaningful relationship within the community. We are confident that Class 1 Nickel will operate using sound environmental practices and that the exploration activities will provide ongoing benefit to the community. We look forward to continuing our relationship with Class1 Nickel and advancing the Alexo-Dundonald Nickel Sulphide Project.”

The Alexo-Dundonald Nickel Sulphide Project is located in the world class Timmins Mine District of Ontario Canada with 100 years of mining activity. The Project enjoys strong established infrastructure and community support and year-round access. Class 1 Nickel looks forward to advancing plans for exploration, development, permitting and construction of mines on the Project to produce nickel-copper-cobalt.

About Matachewan First Nation

Matachewan First Nation is an historic northern Ontario First Nation community that has served as the traditional home for many First Nation families.  It is still home to a growing community and the First Nation is actively taking part in partnering and working with the resource development industry in establishing mutually beneficial agreements.  The First Nation also prides itself in being able to work with industry with a focus on protecting the environment and ecology on their traditional lands in northeastern Ontario.

The community is located approximately 30 kms southeast of the town of Matachewan and about 60 km west of the City of Kirkland Lake, Ontario, Canada.

About Class 1 Nickel 

Class 1 Nickel and Technologies Limited (CSE: NICO/OTCQB: NICLF) is a Mineral Resource Company focused on the development of its 100% owned Alexo-Dundonald Project, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide Mineral Resources located near Timmins, Ontario. The Company also owns 100% the Somanike komatiite hosted nickel copper project in Quebec, which includes the famous Marbridge Mine. 

For more information, please contact: 

Benjamin Cooper, President

T: 416.454.0166

E: [email protected]

For additional information please visit our website at www.class1nickel.com and our Twitter feed: @Class1Nickel.

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Class 1 Nickel and Technologies Limited Provides Clarification Respecting the Shareholder Meeting to Be Held on February 3, 2021

TORONTO, Jan. 18, 2021 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Ltd. (CSE: NICO) (“ Class 1 ” or the “ Company “) announces that the resolution to ratify the acts and proceedings of the Board of Directors described in the Information Circular of the Company for the Annual and Special Meeting of the shareholders to be held on February 3, 2021 will not be put to the shareholders for approval. The resolution will be withdrawn at the meeting because the Information Circular for the meeting does not adequately set forth all of the details related to the acts and proceedings of the Directors in sufficient detail for a shareholder to make an informed decision on the subject matter of the resolution. For clarity, management of the Company has determined that there are no acts or proceedings taken by the Board of Directors which requires approval of the shareholders in any event. This clarification to the Information Circular has been made at the request of OSC staff in connection with an OSC review of the disclosure record of the Company.

Class 1 Nickel and Technologies Limited (CSE: NICO) is a mineral resource company focused on  the development of its 100% owned Alexo-Dundonald Project, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide resources located near Timmins, Ontario, as well as developing and exercising the option over  the Somanike komatiite hosted nickel copper project in Quebec, which includes the famous Marbridge Mine.

 

For more information, please contact:

Benjamin Cooper, President
T: 416.454.0166
E: [email protected]

 

For additional information please visit our new website at www.class1nickel.com and our Twitter feed: @Class1Nickel .

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.

Class 1 Announces Flow-Through Closing

TORONTO, Dec. 17, 2020 — Class 1 Nickel and Technologies Ltd. (CSE: NICO) (“Class 1” or the “Company“) is pleased to announce the closing of its non-brokered private placement of flow-through shares at an issue price of $1.10 per share (the “Offering”) which closed on December 16, 2020.

The Company raised a total of $1,499,999.60 from the sale of 1,363,636 flow-through shares in the Offering.

All securities will be subject to a four-month hold period from the closing date. On this closing, the Company paid a total of $119,999.97 in compensation to certain finders.

Proceeds of the Offering will be used to satisfy drilling commitments under the Company’s option agreement with Quebec Precious Metals Corporation for the Somanike Property located in the Abitibi region of Quebec.

Class 1 Nickel and Technologies Limited (CSE: NICO) is a mineral resource company focused on the development of its 100% owned Alexo-Dundonald Project, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide resources located near Timmins, Ontario, as well as developing and exercising the option over the Somanike komatiite hosted nickel copper project in Quebec, which includes the famous Marbridge Mine.

For more information, please contact:

Benjamin Cooper, President
T: 416.454.0166
E: [email protected]

For additional information please visit our new website at www.class1nickel.com and our Twitter feed: @ClassNickel.

 

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.