Imperial Mining Group Ltd. announced a non-brokered private placement consisting of 17,777,776 units at a price of CAD 0.09 per Unit for total gross proceeds of CAD 1,599,999.84 on July 7, 2023. Each Unit is comprised of one common share and one Share purchase warrant, with each whole warrant entitling the holder to acquire one additional Share of the Corporation at a price of CAD 0.14 over a period of 24 months from the closing date. In connection with this Offering, the Corporation paid to finders, which were all at arm?s length with the Corporation, finders?

fees for a total of CAD 42,012.18 in cash and issued 466,802 warrants, with each warrant entitling the holder to acquire one Share of the Corporation at a price of CAD 0.14 over a period of 24 months from the closing date. All securities issued pursuant to the Offering are subject to the applicable statutory hold period of four months and one day from the closing date. The Offering is subject to the final approval of the TSX Venture Exchange.

The transaction included participation from two directors of the corporation, Philippe Cloutier and Jeff Swinoga, each acquired, respectively, 100,000 and 111,111 units in the transaction. The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction also included participation from 26 placees.