Chesapeake Engages ICP Securities Inc. for Automated Market Making Services

Rhea-AI Summary

Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) has engaged ICP Securities Inc. for automated market making services. ICP will use its proprietary algorithm, ICP Premium™, in compliance with TSX Venture Exchange policies and applicable legislation. The agreement starts September 9, 2024, for an initial term of four months, automatically renewable monthly thereafter. Chesapeake will pay ICP a monthly fee of C$7,500 plus taxes. ICP's role is to correct temporary imbalances in supply and demand of Chesapeake's shares. No performance factors, stock options, or other compensation are included in the agreement. ICP currently holds no interest in Chesapeake but may acquire shares in the future.

Positive

• Engagement of automated market making services to improve share liquidity
• Compliance with TSX Venture Exchange policies and applicable legislation
• Short initial term of 4 months with flexible monthly renewals

Negative

• Additional monthly expense of C$7,500 plus taxes for market making services

Vancouver, British Columbia--(Newsfile Corp. - September 3, 2024) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") 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 invest@chesapeakegold.com or +1 778 731 1362.

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.

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^[1] Mexico's biggest undeveloped gold deposits. Bnamericas. Published Tuesday, November 24, 2020.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221881

FAQ

What is the purpose of Chesapeake Gold Corp (CHPGF) engaging ICP Securities Inc.?

Chesapeake Gold Corp has engaged ICP Securities Inc. to provide automated market making services, including the use of its proprietary algorithm ICP Premium™, to correct temporary imbalances in the supply and demand of the Company's shares.

When does the agreement between Chesapeake Gold Corp (CHPGF) and ICP Securities Inc. start?

The agreement between Chesapeake Gold Corp and ICP Securities Inc. starts on September 9, 2024.

How much will Chesapeake Gold Corp (CHPGF) pay for ICP Securities Inc.'s services?

Chesapeake Gold Corp will pay ICP Securities Inc. a fee of C$7,500 plus applicable taxes per month for their automated market making services.

What is the initial term of the agreement between Chesapeake Gold Corp (CHPGF) and ICP Securities Inc.?

The initial term of the agreement between Chesapeake Gold Corp and ICP Securities Inc. is four (4) months, with automatic monthly renewals thereafter unless either party provides at least 30 days written notice.