Rhea-AI Impact
Rhea-AI Sentiment
Rhea-AI Summary
Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: CHELF) has closed the first tranche of a flow-through private placement, raising $300,000 in gross proceeds. The funds will be used for Canadian exploration expenses qualifying as ‘flow-through critical mineral mining expenditures’ on the company’s Quebec properties. These expenses will be renounced to subscribers by December 31, 2024. In connection with the closing, Champion Electric paid a $21,000 cash finder’s fee and issued 525,000 broker warrants. The securities issued have a four-month and one-day hold period. The private placement’s completion is subject to regulatory approvals, including from the Canadian Securities Exchange.
Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: CHELF) ha chiuso la prima tranche di un collocamento privato con flusso di capitali, raccogliendo $300.000 di proventi lordi. I fondi saranno utilizzati per spese di esplorazione canadese che qualificano come ‘spese minerarie critiche da flusso’ sulle proprietà della società in Quebec. Queste spese saranno rinunciate agli abbonati entro il 31 dicembre 2024. In relazione alla chiusura, Champion Electric ha pagato una commissione in contanti di $21.000 e ha emesso 525.000 warrant da broker. I titoli emessi hanno un periodo di blocco di quattro mesi e un giorno. Il completamento del collocamento privato è soggetto a approvazioni regolatorie, comprese quelle dalla Borsa valori canadese.
Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: CHELF) ha cerrado la primera tranche de una colocación privada de flujo, recaudando $300.000 en ingresos brutos. Los fondos se utilizarán para gastos de exploración canadienses que califiquen como ‘gastos mineros críticos de flujo’ en las propiedades de la empresa en Quebec. Estos gastos serán renunciados a los suscriptores antes del 31 de diciembre de 2024. En relación con el cierre, Champion Electric pagó una comisión en efectivo de $21.000 y emitió 525.000 garantías para corredores. Los valores emitidos tienen un periodo de retención de cuatro meses y un día. La finalización de la colocación privada está sujeta a aprobaciones regulatorias, incluidas las de la Bolsa de Valores de Canadá.
챔피언 일렉트릭 메탈스 주식회사 (CSE: LTHM) (OTCQB: CHELF)는 유가증권 개인 배치를 위한 첫 번째 분량을 종료했습니다고, 30만 달러의 총 수익을 확보했습니다. 자금은 회사의 퀘벡 소유지에서 ‘크리티컬 미네랄 마이닝 지출’로 자격이 있는 캐나다 탐사 비용에 사용될 것입니다. 이러한 비용은 2024년 12월 31일까지 구독자에게 포기됩니다. 종료와 관련하여, 챔피언 일렉트릭은 2만 1천 달러의 현금 중개 수수료를 지급하고 525,000개의 브로커 워런트를 발행했습니다. 발행된 증권은 4개월 1일의 보유 기간이 있습니다. 개인 배치의 완료는 캐나다 증권 거래소를 포함한 규제 승인을 조건으로 합니다.
Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: CHELF) a clôturé la première tranche d’un placement privé par le biais d’un flux de capitaux, levant 300 000 $ de revenus bruts. Les fonds seront utilisés pour des dépenses d’exploration canadiennes qualifiant comme des ‘dépenses de minage de minéraux critiques par flux’ sur les propriétés de l’entreprise au Québec. Ces dépenses seront renoncées aux abonnés d’ici le 31 décembre 2024. En rapport avec la clôture, Champion Electric a payé une commission de recherche de 21 000 $ en espèces et émis 525 000 bons de souscription pour courtiers. Les titres émis ont une période de blocage de quatre mois et un jour. La réalisation du placement privé est soumise à l’approbation des régulateurs, y compris de la Bourse canadienne des valeurs mobilières.
Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: CHELF) hat die erste Tranche einer Privatplatzierung mit Flussfinanzierung abgeschlossen und 300.000 $ brutto eingenommen. Die Mittel werden für kanadische Erkundungskosten verwendet, die als ‘flüssige kritische Mineralienbergbauausgaben’ auf den Quebec-Objekten des Unternehmens qualifizieren. Diese Ausgaben werden bis zum 31. Dezember 2024 an die Abonnenten abgetreten. Im Zusammenhang mit dem Abschluss hat Champion Electric eine Findergebühr von 21.000 $ in bar gezahlt und 525.000 Makler-Warrants ausgegeben. Die ausgegebenen Wertpapiere haben eine Haltedauer von vier Monaten und einem Tag. Der Abschluss der Privatplatzierung unterliegt den behördlichen Genehmigungen, einschließlich der der Canadian Securities Exchange.
Positive
- Raised $300,000 in gross proceeds through flow-through private placement
- Funds to be used for Canadian exploration expenses on Quebec properties
- Expenses qualify for tax benefits under Canadian and Quebec tax laws
Negative
- Issuance of new shares may lead to dilution for existing shareholders
- Incurred $21,000 in cash finder’s fees
- Issued 525,000 broker warrants, potentially leading to further dilution
Toronto, Ontario–(Newsfile Corp. – August 16, 2024) – Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: CHELF) (FSE: 1QB0) (“Champion Electric” or the “Company“) is pleased to announce that the Company has closed a first tranche of the previously announced private placement offering of flow-through shares (“FT Shares”) for gross proceeds of $300,000.
The FT Shares will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada).
The gross proceeds from the issuance of the FT Shares will be used by the Company to incur Canadian exploration expenses that will qualify as “flow-through critical mineral mining expenditures”, as defined in subsection 127(9) of the Income Tax Act (Canada) and, in respect of Québec resident subscribers who are eligible individuals, will qualify for inclusion in the “exploration base relating to certain Québec surface mining exploration expenses” and the “exploration base relating to certain Québec exploration expenses” as such terms are defined in the Taxation Act (Québec) (the “Qualifying Expenditures“) on the Company’s properties in Quebec on or before December 31, 2024 which the Company shall renounce to the subscribers with an effective date no later than December 31, 2024.
In connection with the first closing, the Company paid a cash finder’s fee of $21,000 and 525,000 broker warrants to the finder. Each Broker Warrant will entitle the finder to purchase one common share of the Company at a price of $0.05 for a period of 24 months from the date of closing.
In accordance with applicable Canadian securities laws, all securities issued pursuant to the private placement will be legended with a hold period of four months and one day from the date of issuance. Completion of the private placement remains subject to the receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange (the “CSE“).
The securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.
About Champion Electric Metals Inc.
Champion Electric is a discovery-focused exploration company that is committed to advancing its highly prospective lithium properties in Quebec, Canada and cobalt properties in Idaho, United States. In addition, the Company owns the Baner gold project in Idaho County (optioned to Prestwick Capital Corporation) and the Champagne polymetallic project in Butte County near Arco.The Company’s shares trade on the CSE under the trading symbol “LTHM”, on the OTCQB under the trading symbol “CHELF”, and on the Frankfurt Stock Exchange under the symbol “1QB0”. Champion Electric strives to be a responsible environmental steward, stakeholder, and contributing citizen to the local communities where it operates, taking its social license seriously, employing local community members and service providers at its operations whenever possible.
ON BEHALF OF 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 the Company’s corporate website at www.champem.com.
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 management of the Company, including closing of the Transactions and the prospectivity of the Projects for lithium. 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.
The Projects are at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news release have not verified scientific or technical information produced by third parties.
Not for distribution to United States newswire services or for dissemination in the United States
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220200
FAQ
How much did Champion Electric Metals (CHELF) raise in the first tranche of its flow-through private placement?
Champion Electric Metals (CHELF) raised $300,000 in gross proceeds from the first tranche of its flow-through private placement.
What will Champion Electric Metals (CHELF) use the proceeds for?
The proceeds will be used for Canadian exploration expenses that qualify as ‘flow-through critical mineral mining expenditures’ on the company’s properties in Quebec.
When will Champion Electric Metals (CHELF) renounce the qualifying expenditures to subscribers?
Champion Electric Metals (CHELF) will renounce the qualifying expenditures to subscribers with an effective date no later than December 31, 2024.
What finder’s fees did Champion Electric Metals (CHELF) pay for this private placement?
Champion Electric Metals (CHELF) paid a cash finder’s fee of $21,000 and issued 525,000 broker warrants to the finder.
