iMetal Resources Announces Non-Brokered Private Placement
iMetal Resources Announces Non-Brokered
Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 30, 2025) -
iMetal Resources Inc. (TSXV: IMR)
(OTCQB: IMRFF) (FSE: A7VA)
("
iMetal
" or the "
Company
") is pleased to announce that it will offer
(the "
Offering
") up to 50,000,000 units (each, a "
Unit
") at a price of $0.10 per Unit, by way of non-
brokered private placement, for gross proceeds of up to $5,000,000.
Each Unit will consist of one common share in the capital of the Company (each, a "
Share
") and one
transferable share purchase warrant of the Company (each, a "
Warrant
").
Each Warrant entitles the
holder thereof to purchase one additional Share of the Company at a price of $0.20 for a period of
twenty-four months, provided that in the event the volume-weighted average closing price of the Shares
on the TSX Venture Exchange exceeds $0.50 for at least ten consecutive trading days the Company will
have the right to accelerate the expiry of the Warrants.
The Company intends to use the net proceeds of the Offering towards further exploration at the
Company's current properties, any new potential acquisitions that are currently under review as well as
for general working capital.
In connection with the Offering, the Company may be finders' fees to eligible third-parties who have
assisted in introducing subscribers.
Completion of the Offering remains subject to receipt of all
necessary regulatory approvals and acceptance of the TSX Venture Exchange.
All securities issued
under the Offering will be subject to a statutory hold period of four months and one day from the date of
issue, in accordance with applicable Canadian securities laws.
About iMetal Resources Inc.
iMetal is a Canadian-based junior exploration company focused on the exploration and development of
its portfolio of resource properties in Ontario and Quebec. The flagship property Gowganda West, is an
exploration-stage gold project with a recent discovery hole of 48.5m at 0.85 g/t gold that borders the
Juby Deposit and is located within the Shining Tree Camp area in the southern part of the Abitibi
Greenstone Gold Belt about 100 km south-southeast of the Timmins Gold Camp. The 220-hectare Ghost
Mountain property, 42 kilometres NE of Kirkland Lake, lies 5 kilometres W of Agnico Eagle's Holt and
Holloway Mine. Carheil is an exploration stage project with multi-metal potential and previous graphite
results. The project is about 170 km north of Rouyn-Noranda in the Northern Abitibi Greenstone Belt.
ON BEHALF OF THE BOARD OF DIRECTORS
,
Saf Dhillon
President & CEO
iMetal Resources Inc.
Tel. (604-484-3031)
Suite 550, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6.
https://imetalresources.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This release may contain forward-looking statements or forward-looking information under applicable
Canadian securities legislation that may not be based on historical fact, including, without limitation,
statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate",
"intend", "expect", "potential", and similar expressions. Forward-looking statements involve known
and unknown risks, uncertainties, and other factors which may cause the actual results, performance,
or achievements of iMetal to be materially different from any future results, performance, or
achievements expressed or implied by the forward-looking statements. Forward-looking statements or
information in this release relates to, among other things, the use of proceeds with respect to the
Offering and the Company's ability to gain approval from the TSX Venture Exchange. These forward-
looking statements are based on management's current expectations and beliefs and assume,
among other things, the ability of the Company to successfully pursue its current development plans,
that future sources of funding will be available to the company, that relevant commodity prices will
remain at levels that are economically viable for the Company and that the Company will receive
relevant permits in a timely manner in order to enable its operations, but given the uncertainties,
assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking
statements or information. The Company disclaims any obligation to update, or to publicly announce,
any such statements, events or developments except as required by law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/257247