Chesapeake Engages ICP Securities Inc. for Automated Market Making Services
September 3, 2024 - VANCOUVER, B.C. - Chesapeake Gold Corp. (TSXV:CKG, OTCQX:CHPGF) (“Chesapeake” or the “Company” - https://www.commodity-tv.com/ondemand/companies/profil/chesapeake-gold-corp/) is pleased to announce that it has engaged the services of ICP Securities Inc. (“ICP”) to provide automated market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. The Company will pay ICP a fee of C$7,500 plus applicable taxes per month, payable monthly in advance. The agreement between the Company and ICP is for an initial term of four (4) months (the “Initial Term”) commencing September 9, 2024, and shall be automatically renewed for subsequent one (1) month terms (each an “Additional Term”) unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. There are no performance factors contained in the agreement and no stock options or other compensation being granted in connection with the engagement. ICP does not have any interest in the Company or its securities, directly or indirectly, but may acquire an interest in the securities of the Company in the future.
ICP is an arm's length party to the Company. ICP's market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.
For Further Information:
For more information on Chesapeake, its Metates and Lucy Projects or proprietary oxidative leach technology, please visit our website at www.chesapeakegold.com or contact Jean-Paul Tsotsos at [email protected] or +1 778 731 1362.
In Europe:
Swiss Resource Capital AG
Jochen Staiger
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
About ICP Securities Inc.
ICP Securities Inc. (ICP) is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium™, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors. ICP is a closely held private Canadian corporation.
About Chesapeake
Chesapeake Gold Corp’s flagship asset is the Metates Project (“Metates”) located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver deposits in the Americas[1] with over 16.77 million ounces of gold at 0.57 grams per tonne (g/t) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category and a further 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category. See the technical report titled “Metates Sulphide Heap Leach Project Phase I” dated January 13, 2023, and news release dated February 23, 2023.
[1] Mexico’s biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.
