Champion Bear Resources Ltd. announced that it has entered into a subscription agreement for private placement of 850,000 common shares at an issue price of CAD 0.10 per share for gross proceeds of CAD 85,000 on November 29, 2021. The transaction will involve participation from John E. Squarek, a director of the company. Post the closing, the investor will hold an aggregate of 2,612,500 common shares.

The securities issued in the transaction are subject to a hold period of four months and one day from the closing date. The transaction is subject to all regulatory approvals. Closing is subject to the approval of the TSX Venture Exchange.

The company anticipates closing the equity issuance as soon as practicable following TSX Venture Exchange approval. No finder's fees will be payable in connection with the transaction.