Champion Electric Announces its Intention to Complete a Shares for Debt Transaction

Core Viewpoint - Champion Electric Metals Inc. plans to settle $440,063.68 owed to creditors by issuing 44,006,368 common shares at a price of $0.01 per share as part of a debt settlement agreement [1][2]. Group 1: Debt Settlement Details - The debt settlement involves agreements with arm's length creditors and the shares issued will be subject to a four-month hold period [2]. - The completion of the transaction is contingent upon final acceptance by the Canadian Securities Exchange, and the shares will also be under a twelve-month contractual escrow release starting from the issuance date [2]. Group 2: Company Overview - Champion Electric is focused on exploration and has properties in copper, gold, and cobalt located in Idaho, United States, including the 100%-owned Champagne polymetallic project and the Baner gold project [3]. - The company retains significant claims in the Idaho Cobalt Belt and trades on multiple exchanges under different symbols: "LTHM" on CSE, "CHELF" on OTC Markets, and "1QB0" on Frankfurt Stock Exchange [3]. Group 3: Corporate Responsibility - Champion Electric emphasizes its role as a responsible environmental steward and aims to contribute positively to local communities by employing local members and service providers whenever possible [4].