- Idaho Champion Gold (ITKO) has closed the first tranche of its C$1M private placement offering
- Under the first tranche, the company issued 11,079,210 units at $0.05 per unit for gross proceeds of C$553,960.50
- The proceeds of the financing will be used for the funding of an exploration program at the Idaho Champion Cobalt Projects in Idaho
- Idaho Champion is a discovery-focused exploration company
- Idaho Champion Gold Mines Canada Inc. (ITKO) is down 10 per cent on the day, trading at C$0.045 per share at 2:45 pm ET
Idaho Champion Gold (ITKO) has closed the first tranche of its C$1M private placement offering.
Under the first tranche, the company issued 11,079,210 units at $0.05 per unit for gross proceeds of C$553,960.50. Each unit will consist of one common share and one non-transferable purchase warrant. Each warrant will entitle the holder to purchase one additional share at a price of $0.10 for a period of 24 months.
The proceeds of the financing will be used for the funding of an exploration program at the Idaho Champion Cobalt Projects in Idaho, and for general working capital purposes.
The company paid a cash finders’ fee of $10,800 and issued 216,000 finders’ warrants to eligible finders.
Idaho Champion is a discovery-focused exploration company committed to advancing its 100 per cent-owned highly prospective mineral properties located in Idaho.
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 Gold Mines Canada Inc. (ITKO) is down 10 per cent on the day, trading at C$0.045 per share at 2:45 pm ET.