Champion Electric Announces its Intention to Complete a Shares for Debt Transaction
Champion Electric Announces its Intention to
Complete a Shares for Debt Transaction
Toronto, Ontario--(Newsfile Corp. - March 17, 2026) -
Champion Electric Metals Inc.
(CSE: LTHM) (OTC
Pink: CHELF) (FSE: 1QB0) ("
Champion Electric
" or the "
Company
") announces that it intends to
settle an aggregate of $440,063.68 owed to arm's length creditors of the Company through the
proposed issuance of an aggregate of 44,006,368 common shares (the "
Shares
") in the capital of the
Company at a price of $0.01 per Share (the "
Debt Settlement
").
The Company has entered into debt settlement agreements with each of the creditors. The Shares
issued pursuant to the debt settlement shall be subject to a four-month hold period and completion of the
transaction remains subject to final acceptance of the Canadian Securities Exchange. In addition, the
Shares will be subject to a twelve (12) month contractual escrow release, beginning on the date of
issuance.
About Champion Electric Metals Inc.
Champion Electric is a discovery-focused exploration company with copper, gold, and cobalt properties
in Idaho, United States. The assets include the 100%-owned Champagne polymetallic project in Butte
County near Arco, Idaho and the Baner gold project in Idaho County (optioned to Legacy Gold Mines
Ltd). The Company also retains significant claims in the Idaho Cobalt Belt. The Company's shares trade
on the CSE under the trading symbol "LTHM", on the OTC Markets under the trading symbol "CHELF",
and on the Frankfurt Stock Exchange under the symbol "1QB0".
Champion Electric strives to be a responsible environmental steward, stakeholder, and contributing
citizen to the local communities where it operates, taking its social license seriously, employing local
community members and service providers at its operations whenever possible.
ON BEHALF OF THE BOARD OF CHAMPION ELECTRIC
"Nicholas Konkin"
Nicholas Konkin, Interim President and CEO
To learn more, please visit the Company's SEDAR profile at
www.sedarplus.ca
or the Company's
corporate website at
www.champem.com
.
For further information, please contact:
Phone: (+1) 416-744-9998
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
management of the Company, including closing of the Transactions and the prospectivity of the Projects for lithium. 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.
The Projects are at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news
release have not verified scientific or technical information produced by third parties.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/288866