Idaho Champion Closes Over Subscribed Non-Brokered Private Placement
Idaho Champion Closes Over Subscribed
Non-Brokered Private Placement
Not for distribution to United States Newswire Services or for dissemination in the
United States
Toronto, ON – March 6, 2020 - Idaho Champion Gold Mines Canada Inc. (CSE:
ITKO) (“Champion” or the "Company"), a discovery-focused gold exploration
company, announces that it has closed the final tranche of the oversubscribed
non-brokered private placement offering announced on January 13, 2020. As part
of the closing of this final tranche, the Company issued 6,250,000 units for gross
proceeds of $500,000. The Company paid a cash finders' fee of $21,880 and
issued 273,500 finders’ warrants. This private placement resulted in the Company
receiving total proceeds of $1,204,187.
On January 13, 2020, Champion announced a non-brokered private placement of
up to 12,500,000 units at a price of $0.08 per unit for gross proceeds of up to
$1,000,000. Each unit consists of one (1) common share and one (1) non -
transferrable purchase warrant (a “Warrant”). Each Warrant will entitle the holder
to purchase one additional common share at a price of $0.15 for a period of 60
months from date of the issue. All securities issued pursuant to the financing are
subject to a four-month hold period under applicable Canadian securities laws.
The proceeds of the financing will be used for funding an exploration program at
the Baner Gold and Champagne Projects in Idaho, USA and for general working
capital purposes.
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 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 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]
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.