Form 9 - Proposed Issuance of Listed SecuritiesIdaho Champion Closes First Tranche of Non-Brokered Private Placement
Idaho Champion Closes First Tranche of Non-Brokered
Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES
Toronto, ON – September 30, 2022 - Idaho Champion (CSE: ITKO; OTCQB: GLDRF;
FSE: 1QB1) (“Idaho Champion” or the "Company") is pleased to announce that the Company
has closed the first tranche of its recently announced private placement offering. As part of the
closing of the first tranche, the Company issued 11,700,000 shares for gross proceeds of
$585,000*.
*All amounts expressed are in Canadian dollars.
Idaho Champion opened a non-brokered private placement of up to 20,000,000 units at a price
of $0.05 per unit for gross proceeds of up to $1,000,000. Each unit will consist of one (1) common
share. The proceeds of the financing will be used for the acquisition of the two prospective
lithium pegmatite projects in the Eeyou Istchee James Bay territory of Quebec, preliminary field
work on the Projects and for general working capital purposes.
Completion of the private placement remains subject to the receipt of all necessary regulatory
approvals, including approval of the Canadian Securities Exchange (the “CSE”).
The participation by the director of the Company in the financing constitutes a “related party
transaction” pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders
in Special Transactions (“MI 61-101”). The Company intends to rely on the exemptions from the
formal valuation and minority shareholder approval requirements of MI 61-101 contained in
Section 5.5(b) and Section 5.7(1)(b) of MI 61-101, respectively, on the basis that (i) no securities
of the Company are listed or quoted on any of the markets specified in Section 5.5(b) of MI 61-
101 and (ii) the fair market value of the securities issued to related parties pursuant to the
financing does not exceed $2,500,000, along with the other applicable circumstances contained
in section 5.7(1)(b) of MI 61-101.
In accordance with applicable Canadian securities laws, all securities issued pursuant to the
private placement with be legended with a hold period of four months and one day from the date
of issuance.
About Idaho Champion Gold Mines Inc.
Idaho Champion is a discovery-focused exploration company that is committed to advancing its
highly prospective mineral properties located in Idaho, United States and shortly, Quebec,
Canada. 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 four cobalt properties in Lemhi County
in the Idaho Cobalt Belt. In addition, the Company has been advancing the Baner gold project
in Idaho County and the Champagne polymetallic project located in Butte County near Arco.
Idaho Champion strives to be a responsible environmental steward, stakeholder and 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 OF IDAHO CHAMPION
“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, Idaho Champion
Phone: (416) 567- 9087
Email: [email protected]
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.