Le Lézard
Classified in: Business
Subject: MERGERS AND ACQUISITIONS (M&A)

CL Fitch Pty Ltd Acquires Securities of Class 1 Nickel & Technologies Limited


NOT FOR DISTRIBUTION OR DISSEMINATION INTO THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

TORONTO, Jan. 12, 2024 (GLOBE NEWSWIRE) --  CL Fitch Pty Ltd. ATF Caelan Fitch Family Trust (the "Acquirer") announces that it has acquired ownership and control of convertible debentures (the "Debentures") of Class 1 Nickel & Technologies Limited (the "Company" or "Class 1"), effective January 12, 2024 (the "Acquisition"). The Debentures are convertible in accordance with the terms thereof into up to 8,000,000 common shares of the Company (the "Underlying Shares") at a deemed price of $0.05 per share.

The Underlying Shares were issued pursuant to a private placement by the Company and represent approximately 4.8% of all issued and outstanding common shares of the Company ("Shares") as of January 12, 2024 on a partially diluted basis assuming exercise of the Debentures only, resulting in a corresponding change to the aggregate percentage ownership of the Company by the Acquirer.

Immediately before the Acquisition, the Acquirer and its joint actors held an aggregate of 63,845,496 Shares and convertible securities to acquire an additional 28,918,680 Shares (the "Convertible Securities"), representing approximately 41% of the issued and outstanding Shares (or approximately 50.2% on a partially diluted basis, assuming conversion of such Convertible Securities only), of which the Acquirer held 42,986,014 Shares and 4,500,000 Convertible Securities, representing approximately 27.6% of the issued and outstanding Shares (or approximately 29.7% on a partially diluted basis assuming conversion of such Convertible Securities only), and its joint actors held 20,859,482 Shares and 24,418,680 Convertible Securities, representing approximately 13.4% of the issued and outstanding Shares (or approximately 25.2% on a partially diluted basis, assuming conversion of such Convertible Securities only). Immediately following the Acquisition, the Acquirer and its joint actors held 63,845,496 Shares and convertible securities to acquire an additional 36,918,680 Shares (inclusive of the Debentures), representing approximately 41% of the issued and outstanding Shares at January 12, 2024 (or approximately 52.3% on a partially diluted basis, assuming conversion of such convertible securities only), of which the Acquirer held 42,986,014 such Shares and 12,500,000 such convertible securities (inclusive of the Debentures) representing approximately 27.6% of the issued and outstanding Shares (or approximately 33% on a partially diluted basis, assuming conversion of such convertible securities only), and its joint actors held 20,859,482 Shares and 24,418,680 Convertible Securities, representing approximately 13.4% of the issued and outstanding Shares (or approximately 25.2% on a partially diluted basis, assuming conversion of such convertible securities only).

The Debentures were acquired for an aggregate purchase price of $400,000. The Debentures were acquired from the Company directly and not through the facilities of any stock exchange. The holdings of securities of the Company by the Acquirer are managed for investment purposes, and the Acquirer and/or its joint actors could increase or decrease their respective investments in the Company at any time, or continue to maintain their current investment position, depending on market conditions or any other relevant factor.

Additional Information

A copy of the applicable securities report filed in connection with the matters set forth above may be obtained by contacting: David Fitch, 1A Yacht Street, Southport, QLD 4215 Australia, Tel: 0400 631 608.

 



These press releases may also interest you

at 10:58
Gardiner, a Northern Ohio-based leader in HVAC, building technology and services, today announced its expansion into Fort Wayne and Northeast Indiana. As part of this expansion, Gardiner immediately becomes the exclusive factory sales representative...

at 10:56
Today, CIBC Mellon announced that Definity Financial Corporation (Definity), the parent company to several leading property and casualty insurance entities with brands including Economical, Sonnet, Family, and Petline ? has retained CIBC Mellon as...

at 10:48
Trading resumes in: Company: Homerun Resources Inc. TSX-Venture Symbol: HMR All Issues: Yes Resumption (ET): 11:15 AM CIRO can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading...

at 10:47
AiM Medical...

at 10:45
Bright Pattern, a leading AI-powered, omnichannel contact center provider, recently announced the launch of its new business entity in India, operating under the name Bright Pattern Software Solutions Private Limited. The organization provides...

at 10:45
K9 Resorts Luxury Pet Hotel, multi-award-winning luxury boarding and dog daycare franchise brand, has announced a multi-unit signed agreement across two states, bringing five new resorts to Denver, Colorado and two to the greater Clearwater area in...



News published on and distributed by: