IM Exploration Inc. announces $300,000 Non Brokered Private Placement
LEGAL_34488179.1
IM Exploration Announces $300,000 Private Placement of Shares
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.
Toronto, Ontario, August 19, 2020 – IM Exploration Inc. (CSE: IM) (the " Company”) is
pleased to announce a non-brokered private placement of up to 6,000,000 common shares
(the “Shares”) at a price of $0.05 per Share, for gross proceeds of up to $300,000 (the
“Offering”). The Company intends to use the gross proceeds from the Offering to advance
exploration at Mulloy, to evaluate other properties and general working capital purposes.
Subject to regulatory approval, the Offering is expected to close on or about August 24,
2020. All securities issued pursuant to the Offering will be subject to a four-month hold
period in accordance with applicable Canadian securities laws.
The securities being offered have not, nor will they be registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an
applicable exemption from the U.S. registration requirements. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in the United States or in any other jurisdiction in which such offer, solicitation or sale
would be unlawful.
About IM Exploration Inc.
The Company is a mineral exploration company with an option on the Mulloy Graphite Project
in Northern Ontario.
For further information contact:
Joel Freudman
President and Chief Executive Officer
Tel: (647) 880-6414
Caution Regarding Forward-Looking Information
This news release contains statements and information that, to the extent they are not historical fact,
constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-
looking information is based on the reasonable assumptions and estimates of management, made based
on experience and management’s perception of curr ent conditions and expected developments, all of
which management believes to be reasonable in the circumstances at the date hereof, but which may
ultimately prove to be incorrect. Forward-looking information herein includes statements relating to the
terms and closing of the Offering and use of proceeds.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may
cause the actual results, performance or achievement s of the Company to differ materially from the
outcomes expressed or implied by the forward-looki ng information herein, including, but not limited to,
risks to completion of the Offering and general risk s associated with mineral exploration activities.
Accordingly, readers should not place undue relianc e on any such forward-looking information. The
Company does not undertake any obligation to update any forward-looking information herein to reflect
new developments after the date hereof, except as required by applicable securities legislation.
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The Canadian Securities Exchange has neither a pproved nor disapproved the contents of this news
release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy
of this news release.