David Fitch Indirectly Acquires Securities of Class 1 Nickel & Technologies Limited
NOT FOR DISTRIBUTION OR DISSEMINATION INTO THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
TORONTO, ON / ACCESS Newswire / June 12, 2026 /David Fitch (the "Acquirer") announces that he has indirectly acquired ownership and control of 16,666,666 common shares ("Subject Shares") of Class 1 Nickel & Technologies Ltd. (the "Company") as of June 11, 2026 (the "Acquisition") in settlement of outstanding indebtedness at a deemed price of $0.12 per Subject Share. The Subject Shares were issued pursuant to a private placement by the Company and represent approximately 8.2% of all issued and outstanding common shares of the Company ("Shares") as of June 11, 2026, resulting in a corresponding change to the aggregate percentage ownership of the Company by the Acquirer
Immediately before the Acquisition, the Acquirer and his joint actors held an aggregate of 77,345,496 Shares and convertible securities to acquire an additional 6,182,751 Shares (the "Convertible Securities"), representing approximately 42% of the issued and outstanding Shares (or approximately 43.9% on a partially diluted basis, assuming conversion of such Convertible Securities only), of which the Acquirer did not hold any securities and his joint actors held 77,345,496 Shares and the Convertible Securities, representing approximately 42% of the issued and outstanding Shares (or approximately 43.9% on a partially diluted basis, assuming conversion of such Convertible Securities only). Immediately following the Acquisition (and a concurrent private placement of the Company completed together with the Acquisition), the Acquirer and its joint actors held 94,102,162 Shares and the Convertible Securities, representing approximately 46.2% of the issued and outstanding Shares at June 11, 2026 (or approximately 47.9% on a partially diluted basis, assuming conversion of such Convertible Securities only), of which the Acquirer did not hold any securities directly, and his joint actors held 94,102,162 Shares and the Convertible Securities, representing approximately 46.2% of the issued and outstanding Shares (or approximately 47.9% on a partially diluted basis, assuming conversion of such Convertible Securities only) immediately following the completion of the Acquisition and concurrent transactions.
The Subject Shares were acquired for a deemed aggregate purchase price of $2,000,000 in satisfaction of outstanding indebtedness. The Subject 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 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.
SOURCE:David Fitch
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