Toronto, ON– July 30, 2024 – Champion Electric Metals Inc. (CSE: LTHM; OTCQB: CHELF; FSE: 1QB0) (“Champion Electric” or the "Company") is pleased to announcethat the Company is arranging a private placement of up to 25,000,000 flowthrough shares ( “FT Shares”) at a price of $0.04 per FT Share. TheCompany anticipates gross proceeds of up to $1,000,000.
TheFT Shares will qualify as "flow-through shares" within the meaning ofsubsection 66(15) of the Income Tax Act (Canada).
The gross proceeds from the issuance ofthe FT Shares will be used by the Company to incur Canadian explorationexpenses that will qualify as "flow-through critical mineral miningexpenditures", as defined in subsection 127(9) of the Income TaxAct (Canada) and, in respect of Québec resident subscribers who areeligible individuals, will qualify for inclusion in the "exploration baserelating to certain Québec surface mining exploration expenses" and the"exploration base relating to certain Québec exploration expenses" assuch terms are defined in the Taxation Act (Québec) (the"Qualifying Expenditures") on the Company’s properties inQuebec on or before December 31, 2024 which the Company shall renounce to thesubscribers with an effective date no later than December 31, 2024.
The private placement is expected to close on or about August14, 2023.
In accordance with applicable Canadiansecurities laws, all securities issuedpursuant to the private placement with be legended with a hold period of fourmonths and one day from the date of issuance. Completion of the private placement remainssubject to the receipt of all necessary regulatory approvals, includingapproval of the Canadian Securities Exchange (the “CSE”).
Thesecurities offered have not been, nor will they be, registered under the UnitedStates Securities Act of 1933, as amended, or any state securities law, and maynot be offered, sold or delivered, directly or indirectly, within the UnitedStates, or to or for the account or benefit of U.S. persons, absentregistration or an exemption from such registration requirements. This newsrelease does not constitute an offer to sell or the solicitation of an offer tobuy nor shall there be any sale of securities in any state in the United Statesin which such offer, solicitation or sale would be unlawful.
AboutChampion Electric Metals Inc.
Champion Electric is a discovery-focused exploration company that iscommitted to advancing its highly prospective lithium properties in Quebec,Canada and cobalt properties in Idaho, United States. In addition, the Companyowns the Baner gold project in Idaho County (optioned to Prestwick CapitalCorporation) and the Champagne polymetallic project in Butte County nearArco.The Company’s shares trade on the CSE under the trading symbol “LTHM”, onthe OTCQB under the trading symbol “CHELF”, and on the Frankfurt Stock Exchangeunder the symbol “1QB0”. Champion Electric strives to be a responsibleenvironmental steward, stakeholder, and contributing citizen to the localcommunities where it operates, taking its social license seriously, employinglocal community members and service providers at its operations wheneverpossible.
ON BEHALFOF THE BOARD OF CHAMPION ELECTRIC
“Jonathan Buick”
Jonathan Buick, President, and CEO
To learn more, please visit the Company’s SEDAR profile at www.sedarplus.ca or theCompany’s corporate website at www.champem.com.
For further information, please contact:
Investor Relations and Communications
Phone: (+1) 416-567-9087
Email: nkonkin@champem.com
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THESOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALLTHERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THEUNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.
Cautionary Statements
Neither the Canadian Securities Exchange nor itsregulation services provider has reviewed or accepted responsibility for theadequacy or accuracy of this press release. This press release may includeforward-looking information within the meaning of Canadian securitieslegislation, concerning the business of the Company. Forward-lookinginformation is based on certain key expectations and assumptions made bymanagement of the Company, including closing of the Transactions and theprospectivity of the Projects for lithium. Although the Company believes thatthe expectations and assumptions on which such forward-looking information isbased on are reasonable, undue reliance should not be placed on theforward-looking information because the Company can give no assurance that theywill prove to be correct. Forward-looking statements contained in this pressrelease are made as of the date of this press release. The Company disclaimsany 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.
The Projects are at an early stage of exploration, and the Company cautionsthat the qualified persons who have reviewed and approved this news releasehave not verified scientific or technical information produced by third parties.