Idaho Champion Gold Mines Inc (CSE:ITKO, OTCQB:GLDRF) has announced the appointment of former Neo Lithium co-founder, director, and chief operating officer, Gabriel Pindar to its board of directors.
The company said the appointment further strengthens its board of experienced executives who have been involved in successful lithium transactions with over $6 billion in market value.
"We welcome Mr Pindar to the board and we look forward to unlocking shareholder value in the electric metals space,” Idaho Champion CEO Jonathan Buick said in a statement. “The company is well supported by seasoned mining executives that have proven success with well-known lithium assets."
READ: Idaho Champion Gold Mines signs binding letters of intent to acquire land in lithium-Rich James Bay region of Quebec
The company noted that Pindar has over 25 years of experience as a senior project executive in the development of mining, gas, and large-scale infrastructure projects in Canada (including Quebec), Argentina, Peru, Mexico, Australia, Guinea, Liberia and the UK.
His most recent role was as co-founder, director and COO of Neo Lithium Inc. which discovered one of the premier lithium brine projects in the world and which was recently sold to Zijin Mining for just under $1 billion.
Previously he served as general manager and head of projects for ArcelorMittal Group, deputy project director for BHP Olympic Dam Expansion, and held senior project management roles for engineering firms Flouor, Hatch and Engenium.
The company said Pindar will assume the position on the company's board in place of Greg Schifrin who has resigned effective immediately.
“Idaho Champion (CSE:ITKO, OTCQB:GLDRF) would like to thank Schifrin for his valuable contribution throughout his years of service on the board and is pleased to confirm that Schifrin will continue assisting the company as an advisor for the Idaho-centric projects,” the company added.
Private placement
Idaho Champion also announced it has closed a private placement offering, under which Pindar and a director of the company subscribed for total proceeds of C$1.24 million at $0.08 representing 15,500,000 common shares.
It said the participation by the director of the company in the financing constitutes a related party transaction under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (MI 61-101).
Per applicable Canadian securities laws, all securities issued under the private placement will have a hold period of four months and one day from the date of issuance.
Idaho Champion is a discovery-focused exploration company that is committed to advancing its highly prospective lithium projects in Quebec, Canada and cobalt projects in Idaho.
In addition, the company owns the Baner gold project in Idaho County and the Champagne polymetallic project located in Butte County near Arco.
Contact the author at stephen.gunnion@proactiveinvestors.com