The FT Units and Quebec Units were both offered at a price of
Each Quebec Unit consists of one common share of the Company and one common share purchase warrant exercisable to acquire an additional common share at a price of
Each FT Unit consists of one common share of the Company and one common share purchase warrant exercisable to acquire an additional common share at a price of
The common shares forming part of the Quebec Units and the FT Units will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (
Proceeds from the Placement will be used by the Company to incur qualifying expenditures related to the Company's properties provided that the proceeds from sale of the Quebec Units will only be used on projects located in the Province of
In connection with completion of the Placement, the Company paid
The Placement included a subscription from an insider of the Company for an aggregate of 125,000 FT Units. This participation by the insider constitutes a 'related party transaction' within the meaning of Policy 5.9 of the
About
iMetal is a Canadian based junior exploration company focused on the exploration and development of its portfolio of resource properties in
Contact:
Tel: (604-484-3031)
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include results of exploration, variations in results of mineralization, relationships with local communities, market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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