Imperial Reminds Shareholders of Previously Announced Rights Offering
imperialmetals.com
News Release
Imperial Reminds Shareholders of Previously Announced Rights Offering
Vancouver | June 20, 2022 | Imperial Metals Corporation (the "Company") (TSX:III) would like to remind its shareholders of
the upcoming deadlines and essential details of its previously announced rights offering (the “Rights Offering”) made to the
holders of common shares of the Company (“Common Shares”) of record at the close of business (Pacific Time) on May 31,
2022. The rights (“Rights”) will expire at 2:00 p.m. (Pacific Time) on June 24, 2022 (the "Expiry Time"), after which time
unexercised rights will be void and of no value.
The Company issued one Right for each outstanding Common S hare. Each Right is exercisable to acqui re 0.125 Common
Shares of the Company, upon payment of the subscription price of $3.04 per Common Share (called the “Basic Subscription
Privilege”). Fractional shares will not be issued and any fractions will be rounded down to the nearest whole number. To
illustrate: an eligible holder of 10,000 shares as of the record date would be issued 10,000 Rights, which would entitle the
holder to subscribe for 1,250 shares (10,000 x 0.125) for an aggregate price of C$3,800 (1,250 x C$3.04).
Shareholders who fully exercise their Rights will be entitled to subscribe pro rata for additional Common Shares in the Rights
Offering, if available, as a result of unexe rcised Rights prior to the Expiry Time, subject to certain limitations set out in the
Company’s rights offering circular dated May 19, 2022 (the “Rights Offering Circular”).
A rights offering notice (“Notice” ) and Rights DRS advice statements (“ Rights DRS ”) were mailed to each registered
shareholder of the Company resident in Canada and certain other eligible jurisdictions as at the record date. Registered
shareholders who wish to exercise their Rights must forward the completed Rights DRS, together with the applicable funds,
to the Rights agent, Computershare Investor Services Inc., on or before the Expiry Time. Eligible shareholders who own their
Common Shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials
and instructions from their intermediary.
It is important to note that many intermediaries may have different cut off times prior to the Expiry Time. As such, the
Company recommends that all eligible shareholders who own their Common Shares through an intermediary contact their
broker or financial advisor about the Rights Offering to ensure that they can participate by the intermediary’s cut off time
for subscriptions.
Further details of the Righ ts Offering are contained in the Rights Offering Circular, which was filed on SEDAR under the
Company’s profile at www.sedar.com and are available at the Company’s website at www.imperialmetals.com, from your
dealer rep resentative or by contacting the Chief Financial Officer at 604.488.2658 or by email at
[email protected]. The Company has also registered the offer and sale of the shares issuable on exercise of
the Rights on a Form F -7 registration statemen t under the U.S. Securities Act of 1933, as amended. Shareholders in the
United States should also review the Company’s Registration Statement on Form F -7 which has been filed with the United
States Securities and Exchange Commission and can be found at www.sec.gov and may also be obtained by contacting the
Chief Financial Officer at 604.488.2658 or by email at [email protected].
The Rights O ffering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory
approvals, including the acceptance of the Toronto Stock Exchange.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale o f
these sec urities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
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About Imperial
Imperial is a Vancouver based exploration, mine development and operating company. The Company, through its subsidiaries,
owns a 30% interest in the Red Chris mine, and a 100% interest in both the Mount Polley and Huckleberry copper mines in
British Columbia. Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia
imperialmetals.com
Company Contacts
Brian Kynoch | President | 604.669.8959
Darb S. Dhillon | Chief Financial Officer | 604.488.2658
Forward-Looking Information and Risks Notice
Certain information contained in this news release are not statements of historical fact and are "forward-looking" statements. Forward-looking
statements relate to future events or future performance and reflect Company management's expectations or beliefs regarding future events
and include, but are not limited to, specific statements regarding the Rights Offering, including the timing and completion of the Rights Offering,
the intended use of proceeds raised under the Rights Offering and statements regarding subsequent draw downs of the Company’s existing
credit facility and intended use of funds with respect to any such draw down. In certain cases, forward-looking statements can be identified by
the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “outlook”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions,
events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable
terminology. In this document certain forward-looking statements are identified by words including “guidance”, “expectations”, “targeted”,
“plan”, “planned”, “estimated”, “calls for” and “expected”. Forward-looking information is not based on historical facts, but rather on then
current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company
operates, including, amongst other things, assumptions that: the Company will receive all necessary regulatory, stock exchange and third party
approvals in respect of the Rights Offering; the timing of the Rights Offering will meet the Company’s expectations based on its business and
operational requirements; the Rights Offering will provide sufficient liquidity to support the Company’s intended use of the proceeds
therefrom. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. We can give
no assurance that the forward-looking information will prove to be accurate.
By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially different from any future results, performance or achiev ements
expressed or implied by the forward-looking statements. Such factors include, among others, risks that the Rights Offering will not provide the
expected liquidity or benefits to the Company’s business or operations; risks that required consents and approvals will not be received in order
to advance or complete the Rights Offering; uncertainties relating to the cost of completing the Rights Offering; risks that could cause the
Company to allocate the proceeds of the Rights Offering in a manner other than as disclosed, including all of the risks related to the Company's
business, financial condition, result of operations and cash flows; and other risks of the mining industry as well as those factors detailed from
time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of
which are filed and available for review on sedar.com. Although the Company has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will
prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward looking statements.