Idaho Champion Announces Closing of $8 Million Public Offering Including Full Exercise of Over-Allotment Option
Idaho Champion Announces Closing of $8 Million
Public Offering Including
Full Exercise of Over-Allotment Option
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Toronto, ON – July 30, 2020 - Idaho Champion Gold Mines Canada Inc. (CSE: ITKO)
(“Champion” or the "Company"), announces that it has completed its previously
announced bought deal prospectus offering of 26,910,000 units of the Company (the
“Units”) at a price of $0.30 per Unit for aggregate gross proceeds of $8,073,000, which
included the exercise of the underwriters’ over-allotment option in full (the “Offering”).
Each Unit comprises one common share in the capital of the Company (each, a
“Common Share”) and one-half of one Common Share purchase warrant (each whole
Warrant, a “Warrant”). Each whole warrant is exercisable to acquire one Common Share
(a “Warrant Share”) for a period of 36 months following the closing of the Offering at an
exercise price of $0.45 per Warrant Share.
The Offering was conducted by a syndicate of underwriters led by Beacon Securities
Limited, as lead underwriter, and which included Echelon Wealth Partners Inc. and PI
Financial Corp.
The Company intends to use the net proceeds of the Offering to conduct exploration
programs at its Baner and Champagne gold projects in Idaho, and for working capital
and general corporate purposes.
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”. 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 and employ local community
members and services its 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 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. 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.