Core Viewpoint - Champion Electric Metals Inc. has entered into an agreement to sell its wholly owned Champion Lithium Project for a total cash consideration of USD $1,000,000, aiming to streamline operations and focus on future development opportunities [1][2][3]. Group 1: Transaction Details - The Buyer, a non-arm's length party and a director of the Company, will acquire the Champion Lithium Project located in Quebec [1][3]. - The transaction is subject to regulatory approvals, including from the Canadian Securities Exchange [2]. - The cash consideration will be utilized for reducing liabilities, enhancing working capital, and advancing strategic corporate initiatives [2]. Group 2: Corporate Governance - The transaction is classified as a "related party transaction" under Multilateral Instrument 61-101, with the Company relying on exemptions from certain requirements due to the transaction's fair market value being below CAD $2,500,000 [3][4]. - The board of directors, excluding Mr. Gabirel Pindar, approved the transaction without establishing a special committee, and no dissenting views were expressed [4]. Group 3: Company Overview - Champion Electric is focused on exploration, holding copper, gold, and cobalt properties in Idaho, including the Champagne polymetallic project and the Baner gold project [5]. - The Company emphasizes responsible environmental stewardship and community engagement in its operations [6].