IM Exploration Inc. Completes Initial Public Offering
IM Exploration Inc. Completes Initial Public Offering
Toronto, Ontario, May 29, 2019 – IM Exploration Inc. (CSE: IM) (the "Company”) is pleased to
announce the successful completion today of its initial public offering (the “IPO”) of 3,000,000
common shares (the “Offered Shares”) at a price of $0.10 per Of fered Share for total gross
proceeds of $300,000.
The IPO was led by Haywood Securities Inc. (the “Agent”). The C ompany has granted the
Agent 300,000 non-transferrable share purchase warrants (the “A gent’s Warrants”) with each
Agent’s Warrant exercisable into one common share in the capita l of the Company (each, a
“Share”) at the price of $0.10 per Share for a period of 24 mon ths from today. In addition, the
Agent received a cash fee of $30,000, representing 10% of the g ross proceeds raised in the
IPO, and a corporate finance fee of $12,500 and 100,000 non-tra nsferable share purchase
warrants exercisable on the same terms as the Agent’s Warrants.
The Shares are now listed on the Canadian Securities Exchange ( the “CSE”) and will begin
trading on May 30 under the symbol “IM”.
Additionally, pursuant to the Company's Stock Option Plan, the Company has granted options
to acquire an aggregate of 725,000 Shares to certain officers, directors and consultants of the
Company at an exercise price of $0.10 per Share for a period of five (5) years.
About IM Exploration Inc.
The Company is a mineral exploration and development company fo cused on exploring its
Mulloy Graphite Property 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 their perception of trends, curren t 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 involves known and unk nown 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-looking information herein, including, but not limited to, the
statements relating to the Offered Shares commencing trading on the CSE. Accordingly, readers should
not place undue reliance 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.
The CSE has neither approved nor disapproved the c ontents of this news release. The CSE does not
accept responsibility for the adequacy or accuracy of this news release.