Imperial Metals (III-T) Closes Oversubscribed Equity Financing to Raise $65 million
Dec 30, '16 - NR
Imperial Metals announces that it has closed the previously announced private placement of common shares of the Company (the "Financing"). 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
Imperial 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.
Imperial Contact Information
Brian Kynoch
President
604.669.8959
Andre Deepwell
Chief Financial Officer
604.488.2666
Gordon Keevil
Vice President Corporate Development
604.488.2677
Sabine Goetz
Shareholder Communications
604.488.2657
investor@imperialmetals.com |
