iMetal Resources Provides Update on Private Placement
iMetal Resources Provides Update on Private
Placement
Vancouver, British Columbia--(Newsfile Corp. - July 27, 2026) -
iMetal Resources Inc. (TSXV: IMR)
(OTCQB: IMRFF) (FSE: A7VA)
("
iMetal
" or the "
Company
") is providing this update on its previously
announced non-brokered private placement (the "
Offering
").
The Offering will now consist of up to
30,000,000 units (each, a "
Unit
"), at a price of $0.10 per Unit, for gross proceeds of up to $3,000,000.
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 to purchase one additional Share of the Company at a price of $0.175 for a period of thirty-six
months. The Warrants will be subject to an accelerated expiry if, any time after the date that is four
months and one day after the closing date of the Offering, the volume-weighted average trading price of
the Shares on the TSX Venture Exchange ("
TSXV
") exceeds $0.40 for twenty (20) consecutive trading
days, in which event the holders of the Warrants may, at the Company's election, be given notice and the
Company will issue a press release announcing the Warrants will expire thirty (30) days following the
date of such press release.
The Company intends to use the net proceeds of the Offering towards further exploration at the
Company's properties as well as for general working capital.
Integrity Capital Group Inc. ("
Integrity
") is acting as financial advisor to the Company in connection with
the Offering.
For further information concerning the Offering, please contact Integrity at
. The Company has agreed to pay Integrity a fee on any subscribers
introduced by Integrity to the Offering consisting of: (i) a cash commission equal to 8% of the gross
proceeds from subscribers introduced by Integrity to the Offering; and (ii) non-transferable broker
warrants (each, a "
Broker Warrant
") equal to 8% of the number of Units sold to subscribers introduced
by Integrity to the Offering.
Each Broker Warrant will entitle the holder to acquire one Unit at an exercise
price of $0.10 for a period of thirty-six months after the closing of the Offering.
In connection with the Offering, the Company may also pay finders' fees to additional 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 TSXV.
The Company has requested
an extension of the applicable filing timeline for the Offering with the TSXV in order to facilitate
completion of the Offering.
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.
This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United
States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification
or registration under the securities laws of such jurisdiction. The securities being offered have not been,
nor will they be, registered under the United States Securities Act of 1933, as amended, and such
securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S.
persons absent registration or an applicable exemption from U.S. registration requirements and
applicable U.S. state 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 TSXV. 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.
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STATES
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https://www.newsfilecorp.com/release/306596