Idaho Champion Gold Announces Early Exercise Warrant Incentive Program
Idaho Champion Gold Announces
Early Exercise Warrant Incentive Program
Toronto, ON – May 3, 2021 - Idaho Champion Gold Mines Canada Inc. (CSE: ITKO;
OTCQB: GLDRF; FSE: 1QB1)(“Idaho Champion” or the "Company") is pleased to
announce a Canadian Securities Exchange (“CSE”)-approved early exercise warrant
incentive program (“Warrant Program”) intended to encourage the early exercise of the
Company’s 21,457,588 outstanding purchase warrants (“Warrants”) with a strike price
of $0.15.
The Warrant Program will be open for a 30-day period (“Exercise Period”) and is only for
Warrants priced at $0.15 with an expiry of May 17, 2024, June 7, 2024, August 27, 2024,
February 14, 2025, February 26, 2025 and March 6, 2025.
Under the Warrant Program, each Warrant that is exercised during the Exercise Period
will receive one (1) new common share purchase warrant (“Incentive Warrant”). Each
Incentive Warrant will entitle the holder to purchase one common share of the Company
(“Common Shares”) for a period of five (5) years from the date of issuance of the
Incentive Warrant at a price of $0.25.
If, following four months and one day after the issue date, the closing price of the
Company’s Common Shares on the CSE is at least $0.50 or higher for a period of not
less than twenty (20) consecutive trading days, the Company may accelerate the expiry
time of the Incentive Warrants to 5:00 p.m. (eastern time) thirty (30) calendar days from
the date written notice is provided by the Corporation to the Incentive Warrant holder.
The Company will use the proceeds received as a result of the Warrant Program to fund
the 2021 Exploration program at the Company’s Baner and Champagne gold projects.
If Warrants are not exercised prior to the end of the applicable Exercise Period or if a
Warrant holder does not qualify to receive Incentive Warrants, the Warrants will remain
outstanding and continue to be exercisable on the same terms applicable to such
Warrants as they existed prior to the Program.
The terms and conditions of the Warrant Program and the method of exercising Warrants
pursuant to the Warrant Program will be set forth in a letter to be delivered to the
registered address of each Warrant holder and by email. Warrant holders who wish to
participate in the Warrant Program will agree to exercise their Warrants and deliver
payment and other necessary documents in consideration of the issuance by the
Company of the Incentive Warrants.
Only holders of Warrants who are "accredited investors" under applicable Canadian
securities laws or who provide satisfactory evidence that they meet the requirements of
an alternative exemption from the prospectus requirements of applicable Canadian
securities laws may participate in the Warrant Program.
The Incentive Warrants will be subject to a four month and one day hold period under
applicable Canadian securities laws. No fractional Incentive Warrants will be issued and
the number of Incentive Warrants to be issued shall be rounded down to the nearest
whole number.
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) 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, 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.