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Idaho Champion Gold Mines Canada Announces Early Exercise Warrant Incentive Program
TORONTO, ON / ACCESSWIRE / May 3, 2021 / Idaho Champion Gold Mines Canada Inc. (CSE:ITKO) (OTCQB:GLDRF) (FSE:1QB1)("Idaho Champion" or the "Company") is pleased
About this update from Champion Electric Metals Inc.
[{"type":"text","content":" TORONTO, ON / ACCESSWIRE / 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 issuan...