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...
Non-Renounceable Entitlement Offer to Raise $2.5 Million

Non-Renounceable Entitlement Offer to Raise $2.5 Million

Piche Resources (PR2:AU) has announced Non-Renounceable Entitlement Offer to Raise $2.5 MillionDownload the PDF here. Keep Reading...
Aurum extends BDT2 gold beyond current resource

Aurum extends BDT2 gold beyond current resource

Aurum Resources (AUE:AU) has announced Aurum extends BDT2 gold beyond current resourceDownload the PDF here. Keep Reading...
Gum Creek Open Pit DFS Confirms Pathway for WA’s Next Major Gold Mine Development

Gum Creek Open Pit DFS Confirms Pathway for WA’s Next Major Gold Mine Development

Horizon Gold Limited (ASX: HRN) (‘Horizon’ or ‘the Company’) is pleased to announce the Definitive Feasibility Study (‘DFS’ or ‘Study’) of its 100% owned Gum Creek Gold Project (‘Project’) in Western Australia.The Open Pit DFS confirms Gum Creek's potential to become Western Australia’s next... Keep Reading...
Acquisition of high grade copper gold project in Mauritania

Acquisition of high grade copper gold project in Mauritania

Zeus Resources Limited (ZEU:AU) has announced Acquisition of high grade copper gold project in MauritaniaDownload the PDF here. Keep Reading...
BSPH Accommodation Strategy Progressing

BSPH Accommodation Strategy Progressing

Maritana Minerals (MRT:AU) has announced BSPH Accommodation Strategy ProgressingDownload the PDF here. Keep Reading...
Gold bars overlaid with Chinese flag.

Chinese Banks Halt Retail Paper Gold Trading: Risk Mitigation or Price Discovery?

Chinese banks are pulling the plug on retail paper gold trading, causing a stir in the gold sector. Major Chinese banks, including the Industrial and Commercial Bank of China — the world’s largest by assets — have announced they will cease offering retail paper trading products linked to the... Keep Reading...

Interactive Chart

Latest Press Releases

Related News