Imperial Metals Corporation announced a non-brokered private placement to issue unsecured non-convertible debentures for gross proceeds of up to CAD 30,000,000 on March 1, 2023. The unsecured non-convertible debentures have an aggregate principal amount of CAD 30,000,000. The transaction will include participation from returning individual investor, N. Murray Edwards for CAD 22,000,000, and in addition, directors and officers of the company purchased CAD 1,125,000 of the debentures.

The debentures have a maturity date of March 1, 2024, and bear interest at a rate of 12% per annum, with interest paid semi-annually in cash, with the first payment due September 1, 2023.