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Idaho Champion Announces Closing of $8 Million Public Offering Including Full Exercise of Over-Allotment Option

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Idaho Champion Announces Closing of $8 Million Public Offering Including Full Exercise of Over-Allotment Option

 

 

 

 

 

Idaho Champion Gold Mines Canada Inc. (CSE:ITKO) announces that it has completed its previously announced bought deal prospectus offering of 26,910,000 units of the Company 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. Each Unit comprises one common share in the capital of the Company and one-half of one Common Share purchase warrant. Each whole warrant is exercisable to acquire one Common 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. 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.

 

Posted July 30, 2020

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