Chesapeake Engages ICP Securities Inc. for Automated Market Making Services
Chesapeake Engages ICP Securities Inc. for
Automated Market Making Services
Vancouver, British Columbia--(Newsfile Corp. - September 3, 2024) - Chesapeake Gold Corp. (TSXV:
CKG) (OTCQX: CHPGF) ("
Chesapeake
" or the "
Company
") is pleased to announce that it has
engaged the services of ICP Securities Inc. ("
ICP
") to provide automated market making services,
including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines
of the TSX Venture Exchange and other applicable legislation. The Company will pay ICP a fee of
C$7,500 plus applicable taxes per month, payable monthly in advance. The agreement between the
Company and ICP is for an initial term of four (4) months (the "
Initial Term
") commencing September 9,
2024, and shall be automatically renewed for subsequent one (1) month terms (each an "
Additional
Term
") unless either party provides at least thirty (30) days written notice prior to the end of the Initial
Term or an Additional Term, as applicable. There are no performance factors contained in the
agreement and no stock options or other compensation being granted in connection with the
engagement. ICP does not have any interest in the Company or its securities, directly or indirectly, but
may acquire an interest in the securities of the Company in the future.
ICP is an arm's length party to the Company. ICP's market making activity will be primarily to correct
temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for
the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds
or securities for the market making activities.
For Further Information:
For more information on Chesapeake, its Metates and Lucy Projects or proprietary oxidative leach
technology, please visit our website at
www.chesapeakegold.com
or contact Jean-Paul Tsotsos at
or +1 778 731 1362.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
About ICP Securities Inc.
ICP Securities Inc. (ICP) is a Toronto based CIRO dealer-member that specializes in automated market
making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium™,
that enhances liquidity and quote health. Established in 2023, with a focus on market structure,
execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity
provision and execution services to a broad array of public issuers and institutional investors. ICP is a
closely held private Canadian corporation.
About Chesapeake
Chesapeake Gold Corp's flagship asset is the Metates Project ("
Metates
") located in Durango State,
Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas
[1]
with over
16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t
within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13
million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes
in the Inferred Mineral Resource category. See the technical report titled "Metates Sulphide Heap Leach
Project Phase I" dated January 13, 2023, and news release dated February 23, 2023.
[1]
Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/221881