arco inn

Idaho Champion Gold Announces Closing of Oversubscribed 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 final tranche of the oversubscribed private placement offering announced on May 25, 2021. As part of the closing of the final tranche, the Company issued 1,101,666 units for gross proceeds of $165,250. The Company paid a cash finders' fee of $7,320 and issued 48,800 finders' warrants. This private placement resulted in the Company receiving total proceeds of $1,666,000

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 consists of one (1) common share and one (1) non-transferable purchase warrant (a "Warrant"). Each Warrant entitles 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 is 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.

All securities 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.

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/660384/Idaho-Champion-Gold-Announces-Closing-of-Oversubscribed-Non-Brokered-Private-Placement

News Provided by ACCESSWIRE via QuoteMedia

The Conversation (0)
Idaho Champion Gold

Idaho Champion Gold

Highly Prospective Mineral Properties in Idaho, USA

Highly Prospective Mineral Properties in Idaho, USA Keep Reading...
Gold bars in stacks with words "5 Top Canadian Mining Stocks This Week" on top.

Top 5 Canadian Mining Stocks This Week: Grande Portage Resources Gains 32 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian news impacting the resource sector.Statistics Canada released May’s consumer price index data on Monday (June 22). The data shows that... Keep Reading...
Rhona O'Connell.

Rhona O'Connell: Gold Price Drop — Why it Happened, What's Next

Rhona O'Connell, StoneX's head of market analysis, EMEA and Asia, breaks down gold's price activity over the last six months, including its correction at the beginning of the year and this week's fall below the much-watched US$4,000 per ounce level. Although the metal is now back above US$4,000,... Keep Reading...
Wooden blocks with arrows and "GOLD PRICE" text sit on piles of gold coins against a black background.

Gold Price Falls Below US$4,000, How Low Can it Go?

Gold is feeling the summer heat with a drop below US$4,000 per ounce on Wednesday (June 24). The yellow metal hasn't been below that key psychological level since November 2025, but a stronger US dollar, expectations of higher interest rates and cooling tensions in the Middle East are combining... Keep Reading...
Guinea flag.

Guinea Bans Raw Gold Exports to Force Domestic Refining

Guinea has banned the export of raw gold effective immediately, requiring all industrial and artisanal miners to process the precious metal domestically before shipping.According to a Bloomberg report, Guinean President Mamadi Doumbouya announced the policy during a meeting with mining... Keep Reading...
John Feneck, gold bars.

John Feneck: Gold, Silver — Price Targets, Key Levels to Watch

John Feneck, portfolio manager and consultant at Feneck Consulting, shares his outlook for gold and silver, commenting on the impact of the latest US Federal Reserve meeting — the first with Chair Kevin Warsh at the helm — and the deal between the US and Iran.He sees the gold price revisiting... Keep Reading...
Gold bar and nuggets with text reading "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Lighthouse Gold Shines with 78 Percent Gain

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.Reuters reported on Friday (June 19) that a Panamanian government-led audit of First Quantum... Keep Reading...

Interactive Chart

Latest Press Releases

Related News