iMetal Receives TSX Venture Exchange Approval and Closes Financing for Proceeds of $825,000

2017-04-10 New Release

iMetal Receives TSX Venture Exchange Approval

and Closes Financing for Proceeds of $825,000

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

Venture Exchange approval of the non-brokered private placement previously announced by

press release on March 1, 2017, April 5, 2017 and April 7, 2017.

The company will issue 16,500,000 units for gross proceeds of $825,000.00 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

$0.06 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 $0.06 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. Wit h 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.