Idaho Champion Gold Announces Closing of Oversubscribed Non-Brokered Private Placement
Idaho Champion Gold Announces Closing of
Oversubscribed Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO DISSEMINATION IN THE UNITED STATES
Toronto, ON – August 19, 2021 - Idaho Champion Gold Mines Canada Inc. (CSE: ITKO;
OTCQB: GLDRF ; F SE: 1QB1 ) (“Idaho Champion ” or the " Company") is pleased to
announce that it has closed the final tranche of the oversubscribed private placement
offering announced on May 25, 2021. As part o f the closing of the final tranche, the
Company issued 1,101,666 units for gross proceeds of $165,250. The Company paid a
cash finders’ fee of $7,320 and issued 48,800 finders’ warrants. This private placement
resulted in the Company receiving total proceeds of $1,666,000.
On May 25, 2021, Idaho Champion announced a non-brokered private placement of up
to 10,000,000 units at a price of $0.15 per unit for gross proceeds of up to $1,500,000.
Each unit consist s of one (1) common s hare and one (1) non- transferable purchase
warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional
common share at a price of $0.25 for a period of 48 months from the date of issue and is
subject to an acceleration claus e whereby the Company may force exercis e of the
warrant any time before the end of the 48-month period if the Idaho Champion share
price trades over $0.40 per share for 20 consecutive days. The proceeds of the financing
will be used for the funding of an exploration program the Champagne Gold Project in
Idaho, USA, and for general working capital purposes.
All securities issued pursuant to the financing are s ubject to a four-month hold period
under applicable Canadian securities laws. The Company paid finders’ fees consisting of
8% cash and 8% non-transferable warrants in connection with the financing.
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”,
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 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,
employing local community members and service providers at its operations whenever
possible.
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) 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.