Class 1 Nickel and Technologies Limited announced a non-brokered private placement that it will issue 2% Convertible Debentures Due January 2027 in the aggregate principal amount of up to CAD 400,000 on January 5, 2024. The debentures bear an interest rate of 2% per annum and will mature in three years. The principal amount owing under the debentures shall be convertible at the option of the holder thereof into common shares of the company at a deemed price of CAD 0.05 per subject share, all in accordance with the terms and conditions of the certificates evidencing the debentures.

Insiders of the company may purchase up to 100% of the debentures in the Private Placement. The Private Placement remains subject to the approval of the Canadian Securities Exchange.