iMetal Closes Oversubscribed Non-Brokered Private Placement by 50% for $825,000

2017-04-05 New Release

iMetal Closes Oversubscribed

Non-Brokered Private Placement by 50% for $825,000

iMetal Resources, Inc (“IMR” or the “Company” ) is pleased to announce that it has closed the

non-brokered private placement previously announced by press release on March 1, 2017, for

gross proceeds of $825,000, subject to TSX Venture Exchange approval.

The Company will issue 16,500,000 units at a price of $0.05 per un it (the “Units”). Each Unit

consists of one common share (the “Shares”) and one share purchase warrant (the “Warrants”).

Each Warrant will entitle the holder to purchase one additional common share, exercisable at a

price of $0.05 per share for a period of 24 months from the date of issue.

All securities issued under the private placement are subject to a mandatory hold period off four

months plus one day following the closing of the private placement. The Company will pay finder’s

fees totaling $20,500 and 410,000 finder’s warrants exercisable at a price of $0.05 per share for

a period of 24 months from the date of issue.

The proceeds of this private placement will be used for working capital and for property

development.

ABOUT iMetal Resources, Inc: iMetal is an emerging company focused on the exploration and

development of a number of projects in Ontario and Quebec. With a broad management

experience in junior resource exploration and development. iMetal is well positioned to

aggressively advance this promising property portfolio for its shareholders.

ON BEHALF OF THE BOARD OF DIRECTORS,

Johan Grandin

CEO, IMetal Resources Inc.