gold forecast

Idaho Champion Gold Announces Closing of First Tranche Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO DISSEMINATION IN THE UNITED STATES

Idaho Champion Gold Mines Canada Inc. (CSE:ITKO)(OTCQB:GLDRF)(FSE:1QB1) ("Idaho Champion" or the 'Company') is pleased to announce that it has closed the first tranche of the private placement offering announced on May 25, 2021. AS part of the closing of this first tranche, the Company issued 4,686,664 units for gross proceeds of $703,000. The Company paid a cash finders' fee of $18,516 and issued 123,439 finders' warrants

On May 25, 2021, Idaho Champion announced a non-brokered private placement of up to 10,000,000 units at a price of $0.15 per unit for gross proceeds of up to $1,500,000.

Each unit will consist of one (1) common share and one (1) non-transferable purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share at a price of $0.25 for a period of 48 months from the date of issue and will be subject to an acceleration clause whereby the Company may force exercise of the warrant any time before the end of the 48-month period if the Idaho Champion share price trades over $0.40 per share for 20 consecutive days.

The proceeds of the financing will be used for the funding of an exploration program the Champagne Gold Project in Idaho, USA, and for general working capital purposes.

The financing is subject to regulatory approval and all securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws. The Company paid finders' fees consisting of 8% cash and 8% non-transferable warrants in connection with the financing, subject to compliance with the policy of the Canadian Securities Exchange (the "CSE"). Completion of the private placement and payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including approval of the CSE.

About Idaho Champion Gold Mines Inc.

Idaho Champion is a discovery-focused gold exploration company that is committed to advancing its 100%-owned highly prospective mineral properties located in Idaho, United States. The Company's shares trade on the CSE under the trading symbol "ITKO", on the OTCQB under the trading symbol "GLDRF", and on the Frankfurt Stock Exchange under the symbol "1QB1". Idaho Champion is vested in Idaho with the Baner Project in Idaho County, the Champagne Project located in Butte County near Arco, and four cobalt properties in Lemhi County in the Idaho Cobalt Belt. Idaho Champion strives to be a responsible environmental steward, stakeholder and a contributing citizen to the local communities where it operates. Idaho Champion takes its social license seriously, employing local community members and service providers at its operations whenever possible.

ON BEHALF OF THE BOARD

"Jonathan Buick"
Jonathan Buick, President and CEO

For further information, please visit the Company's SEDAR profile at www.sedar.com or the Company's corporate website at www.idahochamp.com.

For further information please contact:

Nicholas Konkin, Marketing and Communications
Phone: (416) 567- 9087
Email: nkonkin@idahochamp.com

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.

Cautionary Statements

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including suggested strike extension. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE: Idaho Champion Gold Mines Canada Inc.



View source version on accesswire.com:
https://www.accesswire.com/653173/Idaho-Champion-Gold-Announces-Closing-of-First-Tranche-Non-Brokered-Private-Placement

News Provided by ACCESSWIRE via QuoteMedia

The Conversation (0)
Mount Hope Mining

Drilling Commences at Mt Hope Project

Mount Hope Mining Limited (ASX: “MHM” or the “Company”) is pleased to announce its maiden drill program has commenced at its 100%-owned Mt Hope Project in New South Wales (Figure 1).

Keep reading...Show less
Floating US$100 bills over a blurred American flag background.

Gold Price Rises as Powell Boosts Rate Cut Expectations in Jackson Hole Speech

Citing a shifting economic situation in the US, Federal Reserve Chair Jerome Powell indicated that the central bank is ready to adjust interest rates during his speech at the Jackson Hole Economic Policy Symposium.

Powell indicated that the Fed’s dual mandate goal is essentially in balance, saying the labor market remains close to maximum employment and that inflation has eased from post-pandemic highs, although it remain elevated.

However, the Fed head also noted that “the balance of risks appears to be shifting,” with significant uncertainty in the economy as a result of higher tariffs, tighter immigration and a slowdown in the pace of growth in the labor market.

Keep reading...Show less
Stefan Gleason, gold and silver bars.

Stefan Gleason: What Drives Gold's Next Move Higher, "Huge" Silver Buy Signal

Stefan Gleason, CEO of Money Metals, shares his outlook for gold, silver and platinum.

He also weighs in on Tether Investments' recent deal with Elemental Altus Royalties (TSXV:ELE,OTCQX:ELEMF) and advances in US sound money policies.

Keep reading...Show less
Gold bars stacked in front of American flag.

OPINION — Goldenomics 104: Trump’s Tariffs and Gold

This opinion piece was submitted to the Investing News Network (INN) by Darren Brady Nelson, who is an external contributor. INN believes it may be of interest to readers and has copy edited the material to ensure adherence to the company’s style guide; however, INN does not guarantee the accuracy or thoroughness of the information reported by external contributors. The opinions expressed by external contributors do not reflect the opinions of INN and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Keep reading...Show less

Latest Press Releases

Related News

×