Champion Electric Metals selling Champion lithium project, Quebec
Champion Electric Metals Inc. [CSE: LTHM; OTC: CHELF; FSE: 1QB0] has entered into a mining claim acquisition agreement dated Dec. 19, 2025, with a non-arm’s-length party, under which the buyer will acquire the company’s wholly owned Champion lithium project located in the Eeyou Istchee James Bay territory of Quebec.
As consideration for the project, the company shall receive cash payments in the aggregate of US$1 million. The completion of the transaction contemplated by the agreement remains subject to the approval of all regulatory and other approvals, including the approval of the Canadian Securities Exchange. The company intends to use the consideration to reduction of liabilities, working capital and advancing strategic corporate initiatives.
Interim president and CEO, Nicholas Konkin, commented: “The proposed sale of the Champion lithium project allows us to streamline the company and sharpen our focus on the next stage of its development. Champion retains a portfolio of promising early-stage precious and base metal assets, and this transaction positions us to begin evaluating more advanced-stage opportunities to drive the company forward.”
The transactions contemplated by the agreement are constituted related-party transactions as defined in Multilateral Instrument 61-101 as the buyer is a director of the company.
The agreement and the transactions contemplated thereby were approved by directors of the company who are independent for the purposes of the transaction being all directors other than Gabirel Pindar.
Champion Electric is a discovery-focused exploration company with copper, gold and cobalt properties in Idaho, United States. Assets include the 100%-owned Champagne polymetallic project in Butte county near Arco, Idaho, and the Baner gold project in Idaho county (optioned to Legacy Gold Mines Ltd). The company also retains significant claims in the Idaho cobalt belt.
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