iMetal Resources Inc. (IMR – tsxv), reports that it has closed 6,944,950 Units for gross proceeds of $416,677.00 of a 15,000,000 Unit non -brokered private placement previously announced on
December 14, 2017
iMetal Resources Inc. (IMR – tsxv), reports that it has closed 6,944,950 Units for gross proceeds
of $416,677.00 of a 15,000,000 Unit non -brokered private placement previously announced on
December 07, 2017. The balance of the 15,000,000 placement have been cancelled.
The Units were sold at a price of $0.06 per Unit. Each Unit consists of one common share and a
non-transferrable purchase warrant exercisable at a price of $0.10 per share for a period of 24 -
months from TSX Venture Exchange approval of the financing.
The warrants are subject to an accelerated expiry if the closing price of the Company’s common
shares on the TSX Venture Exchange exceeds $0.20 for any ten consecutive days, in which event
the holder will be given notice, at the discretion of the Board of Directors of the issuer, that the
warrants will expire 30-days following the date of such notice. The warrants may be exercised by
the holder during the 30-day period and the expiration of the warrants.
All securities issued under the private placement are subject to a mandatory resale hold period of
four months plus one day following Exchange approval of the closing of the financing. The
company will pay finder’s fees totaling $20,050 and 290,000 finder warrants exercisable at $0.10
per share for two years.
Insiders of the issuer subscribed for 1,400,000 units of the placement.
This transaction is subject to final acceptance by the TSX Venture Exchange.
This Press Release was prepared by iMetal Resources Inc. Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is de fined in the Policies of the TSX Venture
Exchange) has reviewed nor accepts responsibility for the adequacy or accuracy of this release.
ON BEHALF OF THE BOARD OF DIRECTORS,
Brian Fagan
President & CEO, iMetal Resources Inc.
510-580 Hornby St., Vancouver, BC, V6C 3B6 / https://imetalresources.ca / Tel: 360-224-7141