Idaho Champion Closes Oversubscribed Non-Brokered Private Placement
Idaho Champion Closes Oversubscribed Non-Brokered
Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES
ALL AMOUNTS EXPRESSED ARE IN CANADIAN DOLLARS
Toronto, ON – October 12, 2022 - Idaho Champion (CSE: ITKO; OTCQB: GLDRF;
FSE: 1QB1) (“Idaho Champion” or the "Company") today announces that the Company has
closed the final tranche of its private placement offering. As part of the closing of the third
tranche, the Company issued 3,900,000 shares for gross proceeds of $195,000. This brings the
total proceeds raised over the three tranches to $1,240,000.
Jonathan Buick, President and CEO, said: “There is no denying that navigating the current
market conditions has been tough for every issuer, but especially for junior resource companies.
We are grateful for the support our Company has received since announcing our pivot to the
battery metals space. We are finalizing the previously announced acquisition of the highly
prospective lithium projects in Quebec and are working on the exploration program for our cobalt
projects in the Idaho Cobalt Belt, where our neighbour Jervois Global has just commissioned the
only primary cobalt mine in the US to-date. This will be an exciting time for Idaho Champion, and
we look forward to updating shareholders on our progress.”
On September 19, 2022, Idaho Champion opened a non-brokered private placement of up to
20,000,000 shares at a price of $0.05 per share for gross proceeds of up to $1,000,000.
As part of the third and final tranche, the Company paid a cash finders’ fee of $4,750. Completion
of the private placement and payment of any finders’ fees remain subject to the receipt of all
necessary regulatory approvals, including approval of the Canadian Securities Exchange (the
“CSE”).
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.