Arizona Sonoran Copper

Imperial Metals Closes Oversubscribed CA$65 million Financing

Imperial Metals Corp. (TSX: III) has closed the previously announced private placement of common shares of the Company. Due to strong demand, the Company increased the Financing from $55 million to $65 million. The Company has issued 11,818,182 common shares at a price of $5.50 per share for gross proceeds of $65,000,001.

N. Murray Edwards and The Fairholme Partnership, LP, significant shareholders of the Company, purchased $30.0 million (5,454,545 common shares) and $13.1 million (2,379,093 common shares) of the Financing, respectively. In addition, a director of the Company purchased $1.5 million (272,727 common shares) of the Financing.

The Company intends to use the proceeds of the Financing to improve its working capital and for general corporate purposes.

About Imperial Metals

Imperial Metals is an exploration, mine development and operating company based in Vancouver, British Columbia. The Company, through its subsidiaries, owns the Red Chris and Mount Polley copper|gold mines in British Columbia, and the Sterling gold mine in Nevada. Imperial also holds a 50% interest in Huckleberry Mines Ltd. and in the Ruddock Creek lead|zinc property, both in British Columbia. 

Source: Imperial Metals

MORE MINING NEWS

GET DAILY NEWS FLOW

Sign Up To Receive All Morning
News To Your Email Inbox

Please review our Disclaimer and Privacy Policy before subscribing.

KODIAK COPPER (TSX.V: KDK)

Kodiak Copper

Kodiak Copper is focused on its 100% owned copper porphyry projects in Canada and the USA. The company was founded by Chairman Chris Taylor (President and CEO of Great Bear Resources) and led by Claudia Tornquist... LEARN MORE