Vancouver, British Columbia--(Newsfile Corp. - September 25, 2023) - Nickel North Exploration Corp. (TSXV: NNX) ("Nickel North" or the "Company") wishes to provide an update on the previously announced option agreement (the "Option Agreement") with 1844 Resources Inc. ("1844"), pursuant to which the Company has agreed to sell a 100% undivided interest (the "Transaction") in the Hawk Ridge nickel-copper project comprised of 411 mineral claims covering 179 km2 in the Ungava Bay on the east coast of Quebec (the "Hawk Ridge Project").

The Company and 1844 have entered into an amending agreement (the "Amending Agreement") with respect to the Option Agreement, pursuant to which the parties have agreed to amend the payment terms and conditions of the Option Agreement as follows:

1844 is now entitled to acquire a 10% undivided interest in the Hawk Ridge Project on the date that is two business days following the approval of the Option Agreement (the "Effective Date") by the TSX Venture Exchange (the "Exchange") by paying $325,000 and issuing 5,000,000 Units (valued at $175,000) and 1,000,000 common shares of 1844 to the Company (the "First Option"); 1844 is now entitled to acquire a 10% undivided interest in the Hawk Ridge Project on the date that is two business days following the approval of the Option Agreement (the "Effective Date") by the TSX Venture Exchange (the "Exchange") by paying $325,000 CAD and issuing 5,000,000 Units (valued at $175,000CAD) and 1,000,000 common shares of 1844 to the Company (the "First Option"). Each Unit (a "Unit" at $0.035 per Unit) will consist of one common share of 1844 and one common share purchase warrant (a "Unit Warrant"). Each Unit Warrant will entitle the holder thereof to purchase one common share of 1844 at a price of $0.055 for a period of 36 months following the date of issuance.

see & read more on
https://nnexploration.com/news/nickel-north-provides-update-on-option-agreement-t-6376/