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  • Imperial Metals Corporation (III) announces the TSX has accepted the company’s Notice of Intention to make a normal course issuer bid
  • Imperial Metals may purchase up to 642,632 common shares
  • Purchases will be made at prevailing market prices between April 29, 2021 and April 28, 2022
  • Imperial is a Vancouver-based exploration, mine development and operating company
  • Imperial Metals Corporation (III) is up 0.20 per cent, trading at C$5.03 per share at 12 pm ET

Imperial Metals Corporation (III) announces the TSX has accepted the company’s Notice of Intention to make a normal course issuer bid.

The bid will be transacted through the facilities of the TSX or alternative Canadian market places.

Imperial Metals may purchase up to 642,632 common shares, which represents 0.5% of the total 128,526,424 common shares of the company as of April 23, 2021.

Purchases will be made at prevailing market prices, commencing April 29, 2021 and ending no later than April 28, 2022. Daily purchases made by the company will not exceed 59,206 common shares or 25% of the company’s average daily trading volume on the TSX.  

The shares acquired under the bid will be used to satisfy the company’s obligations under its Non-Management Directors’ Plan and Share Purchase Plan.

The funding for any purchase pursuant to the bid will be financed out of Imperial’s working capital.

In the previous 12 months, the company has repurchased 107,850 of its outstanding common shares at the average price per share of $2.71.

The maximum number of common shares sought and approved by the TSX under the terms of the previous Bid was 642,451.

Imperial is a Vancouver-based exploration, mine development and operating company.

Imperial Metals Corporation (III) is up 0.20 per cent, trading at C$5.03 per share at 12 pm ET.

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