Bruce Reid Announces Acquisition of Additional Idaho Champion Securities
May 15 2019 - 8:00PM
Mr. Bruce Reid announces that effective May 17, 2019 he will
acquired ownership of or control over an additional aggregate of
360,000 units (the “
Units”) at a deemed price of
$0.10 per common share (the “
Common Share”) in the
capital of Idaho Champion Gold Mines Canada Inc. (“
Idaho
Champion or the “
Issuer”) (CSE:
ITKO) through conversion of an aggregate of
$36,000.00 of debt owed by the Issuer.
Each unit will consist of one (1) common share
and one (1) non-transferrable purchase warrant (the
“Warrant”). Each Warrant will entitle the holder
to purchase one additional common share at a price of $0.20 for a
period of 36 months from date of the issue.
Prior to acquiring such Common Shares, Mr. Reid
owned or controlled 9,568,726 Common Shares representing
approximately 24.06% of the issued and outstanding Common Shares of
Idaho Champion.
As a result of the above-noted acquisition, Mr.
Reid will own or control 9,928,726 Common Shares representing
approximately 22.32% of the issued and outstanding Common Shares
and 360,000 Warrants. Assuming exercise of the warrants, the
Acquiror would own, directly and indirectly, a total of 10,288,726
common shares representing approximately 23.13% of the Issuer’s
issued common shares on a post-conversion beneficial ownership
basis.
Mr. Reid has no present intention of acquiring
additional securities of Idaho Champion. Depending upon his
evaluation of the business, prospects and financial condition of
the Issuer, the market for Idaho Champion's securities, general
economic and tax conditions and other factors, Mr. Reid may acquire
more or sell some or all of his securities of Idaho Champion.
Idaho Champion relied on the exemption provided
in section 2.14 - Securities for Debt of the National Instrument
45-106 - Prospectus Exemptions.
For more information and to obtain a copy of the
early warning report required by securities legislation and filed
on SEDAR under Idaho Champion' company profile at www.sedar.com.
please contact:
Bruce Reid401 Bay Street, Suite 2702Toronto,
Ontario M5H 2Y4Telephone: 647-500-4495
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