  We report the results of an observation of a large diameter (110 pc)
supernova remnant (SNR) found to encircle the position of the ultraluminous
X-ray source (ULX) IC 342 X-1. The inferred initial energy input to the SNR is
at least 2 -- 3 times greater than the canonical energy for an ``ordinary''
supernova remnant. Two regions on the inside of the shell are bright in [O III]
lambda5007 emission, possibly as the result of X-ray photoionization by the
ULX. If this is the case, then the morphology of this nebulosity implies that
the X-ray emission from the ULX is anisotropic. The presence of the ULX, most
probably a black hole X-ray binary, within an unusually energetic supernova
remnant suggests that we may be observing the aftermath of a gamma-ray burst,
though other origins for the energetic nebula are discussed.
