Toronto, Ontario--(Newsfile Corp. - September 24, 2019) - This press release is issued pursuant to the early warning requirements of National Instrument 62-103 with respect to the common shares ("Common Shares") of Class 1 Nickel and Technologies Inc. (formerly, Lakefield Marketing Corp., the "Company").

On September 24, 2019 (the "Effective Date"), the Company completed a "three-cornered" amalgamation (the "Amalgamation") under the Business Corporations Act (Ontario) involving the Company, Bloom Retail Management Inc. ("Lakefield Subco") and Legendary Ore Mining Corporation ("Legendary"). On closing of the Amalgamation, Legendary amalgamated with Lakefield Subco to form a new corporation, which became a wholly-owned subsidiary of the Company. In exchange for all of the issued and outstanding common shares of Legendary, the Company issued 80 million common shares of the Company to the former Legendary shareholders. As a result, on closing, Benjamin Cooper and David Fitch, through certain affiliated entities, acquired ownership or control of 28,190,559 and 31,923,078 Common Shares of the Company, respectively.

Benjamin Cooper, together with joint actors, directly and indirectly, holds an aggregate of 31,923,078 Common Shares, representing approximately 31.31% of the Common Shares outstanding at the effective time of the Amalgamation. Benjamin Cooper, through its affiliates, holds the above-noted securities of the Company for investment purposes and Benjamin Cooper and such affiliates may, depending on market and other conditions, increase its beneficial ownership, control or direction over the Common Shares or other securities of the Company, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

David Fitch, together with joint actors, directly and indirectly, holds an aggregate of 28,190,559 Common Shares, representing approximately 35.5% of the Common Shares outstanding at the effective time of the Amalgamation. David Fitch, through its affiliates, holds the above-noted securities of the Company for investment purposes and David Fitch and such affiliates may, depending on market and other conditions, increase its beneficial ownership, control or direction over the Common Shares or other securities of the Company, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

The acquisition was made in reliance on the business combination and reorganization exemption of National Instrument 45-106 - Prospectus and Registration Exemptions. A report respecting this transaction will be electronically filed with the applicable securities regulators and will be available for viewing through the Internet at the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at .

Benjamin Cooper and its affiliates' Canadian offices are at Benjamin Heath Cooper c/o Irwin Lowy LLP, 217 Queen Street West, Toronto, ON M5V 0R2.

David Fitch and its affiliates' Canadian offices are at 1A Yacht Street, Southport QLD, Australia 4215.

For Further Information Please Contact:

Benjamin Cooper
President and Chief Executive Officer
Class 1 Nickel and Technologies Inc.
Email:

Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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