Idaho Champion Announces $3.5 Million Bought Deal Public Offering
Idaho Champion Announces $3.5 Million Bought Deal
Public Offering
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Toronto, ON – July 8, 2020 - Idaho Champion Gold Mines Canada Inc . ( CSE: ITKO )
(“Champion” or the "Company"), is pleased to announce that it has entered into an agreement
with Beacon Securities Limited (“ Beacon”), on its own behalf and on behalf of a syndicate of
underwriters (together with Beacon, the “ Underwriters”), pursuant to which the
Underwriters have agreed to purchase, on a bought deal basis, 11,700,000 units (the “ Units”)
in the capital of the Company at a price of $0.30 per Unit (the “ Offering Price”) for aggregate
gross proceeds to the Company of $3,510,000.
Each Unit will consist of one common share of the Company (a “ Common Share”) and one-
half of one Common Share purchase warrant (each whole Common Share purchase warrant, a
“Warrant”). Each Warrant will be exercisable to acquire one Common Share (a “ Warrant
Share”) for a period of 36 months following the closing of the Offering at an ex ercise price of
$0.45 per Warrant Share.
The closing of the Offering is expected to occur on or about July 30, 2020 (the “ Closing Date”)
and is subject to the completion of formal documentation and receipt of all regulatory
approvals, including the approv al of the Canadian Securities Exchange (“ CSE”). The net
proceeds from the Offering will be used for working capital and general corporate purposes.
The Company has granted the Underwriters an option (the “ Over-Allotment Option ”),
exercisable, in whole or i n part, by Beacon, on behalf of the Underwriters, giving notice to
the Company at any time and from time to time up to 30 days following the Closing Date, to
purchase, or to find substituted purchasers for, up to an additional number of Units equal to
15% of the number of Units sold pursuant to the Offering at the Offering Price to cover over -
allotments, if any, and for market stabilization purposes.
The Units to be issued under the Offering will be offered by way of a short form prospectus to
be filed in t he Provinces of British Columbia, Alberta, Ontario and Quebec (and such other
Provinces as agreed between the Company and the Underwriters) and by private placement
to eligible purchasers resident in jurisdictions other than Canada that are mutually agreed by
the Company and Beacon, provided that no prospectus filing or comparable obligation arises
and the Company does not therefore become subject to continuous disclosure obligations in
such jurisdiction.
The Units being offered have not been, nor will the y be, registered under the United States
Securities Act of 1933, as amended (“ U.S. Securities Act ”) and may not be offered or sold in
the United States or to, or for the account or benefit of, “U.S. persons” (as defined in
Regulation S under the U.S. Secur ities Act) absent registration or an applicable exemption
from the registration requirements. The Units may be offered in the United States to
Qualified Institutional Buyers (as defined in Rule 144A under the U.S. Securities Act)
pursuant to exemptions fro m the registration requirements under rule 144A of the U.S.
Securities Act. This news release will not constitute an offer to sell or the solicitation of an
offer to buy nor will there be any sale of the securities in any State in which such offer,
solicitation or sale would be unlawful.
ABOUT IDAHO CHAMPION
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 t rade on the CSE under the trading symbol “ITKO”. 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 C hampion strives to be a responsible environmental steward, stakeholder
and a contributing citizen to the local communities where we operate. Idaho Champion takes
our social license seriously and employ local community members and services in our
operations.
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) 477 7771 ext. 205
Email: [email protected]
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY ANY SECURITI ES 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
This News Release includes certain “forward -looking statements” which are not comprised of historical facts. Forward -looking
statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the
effect that the Company or management expects a stated condition or result to occur. Forward -looking statements may be
identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Si nce
forward-looking statements are based on assumptions and address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Although these statements are based on information currently available to the
Company, the Company prov ides no assurance that actual results will meet management’s expectations. Risks, uncertainties and
other factors involved with forward -looking information could cause actual events, results, performance, prospects and
opportunities to differ materially fr om those expressed or implied by such forward -looking information. Forward looking
information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements ,
exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans,
timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to diffe r
materially from such forward -looking information include, but are not limited to failure to identify mineral resources, failure to
convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production
decision, the preliminary nature of metallurgical t est results, delays in obtaining or failures to obtain required governmental,
environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in
the future, changes in equity markets, infl ation, changes in exchange rates, fluctuations in commodity prices, delays in the
development of projects, capital, operating and reclamation costs varying significantly from estimates and the other risks
involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed
on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward -looking information
in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of
this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Comp any
disclaims any intention or obligation to update or rev ise any forward -looking information, whether as a result of new
information, future events or otherwise, other than as required by law.