Source: Imperial Metals Corporation
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  • The company issued unsecured non-convertible A debentures with an aggregate principal amount of $48,450,000
  • The company also issued unsecured non-convertible B debentures with an aggregate principal amount of $4,550,000
  • The proceeds will be used to fund the continuing operations at the company’s Mount Polley mine and Red Chris mine
  • Imperial is a Vancouver-based exploration, mine development and operating company
  • Imperial Metals Corporation (III) opened trading at C$1.72 per share

Imperial Metals (III) has closed its non-brokered private placement of unsecured convertible debentures with a principal amount of $53 million.

The company issued unsecured non-convertible A debentures with an aggregate principal amount of $48,450,000, a maturity date of four years and a 10 per cent interest per annum. The company issued 6,056,250 common share purchase warrants, which are exercisable into common shares at a price of $2.10 per share for a period of four years.

The company also issued unsecured non-convertible B debentures with an aggregate principal amount of $4,550,000, a maturity date of twelve months and an interest rate of 12.0 per cent per annum. No warrants were issued in connection with the B Debentures.

The proceeds will be used to fund the continuing operations at the company’s Mount Polley mine and Red Chris mine and for general working capital purposes.

Imperial is a Vancouver-based exploration, mine development and operating company with holdings that include the Mount Polley mine, the Huckleberry mine, and the Red Chris mine. Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia.

Imperial Metals Corporation (III) opened trading at C$1.72 per share.


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