Mathew Fitch Acquires Securities of Class 1 Nickel & Technologies Limited

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

TORONTO, May 13, 2024 (GLOBE NEWSWIRE) -- Mathew Fitch (the "Acquirer") announces that he has indirectly acquired ownership and control of an aggregate of 9,000,000 common shares (the "Shares") of Class 1 Nickel & Technologies Limited (the "Company" or "Class 1"), effective May 13, 2024 (the "Acquisition").

The Shares were issued pursuant to a private placement by the Company and represent approximately 5.4% of all issued and outstanding Shares as of May 13, 2024, resulting in a corresponding change to the aggregate percentage ownership of the Company by the Acquirer and his joint actors.

Immediately before the Acquisition, the joint actors of the Acquiror held an aggregate of 23,619,372 Shares, representing approximately 15.2% of the issued and outstanding Shares. Immediately following the Acquisition, the joint actors of the Acquiror held 32,619,372 Shares representing approximately 19.6% of the issued and outstanding Shares at May 13, 2024.

The Shares were acquired for an aggregate purchase price of $450,000. The Shares 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 and his joint actors 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: Mathew Fitch, 47 Waymouth Street, Adelaide SA 5000, Australia, Tel: 61 403 342 045.