Press release:
Friday May 8, 6:12 pm Eastern Time
Company Press Release
Imperial Metals: Shares Subscribed for by N. Murray Edwards
VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--May 8, 1998--Imperial Metals Corp(TSE:IPM. - news)
Imperial Metals Corporation (IPM-T) and N. Murray Edwards announced today that the previously announced private placements of Imperial which closed earlier this week of 5,000,000 common shares and 1,500,000 share purchase warrants had been in part subscribed for by Mr. Edwards as to 2,853,750 common shares and 1,500,000 share purchase warrants.
Mr. Edwards now holds 18,355,000 common shares indirectly, 3,262,950 common shares directly and the 1,500,000 share purchase warrants indirectly. Mr. Edwards indicated that the acquisitions were for investment purposes and that he may acquire additional common shares of Imperial from time to time depending on market conditions.
I live in Calgary and Murray Edwards is extremely well regarded in this town as a very astute business person. He is involved in many extremely successful companies in the oil and gas business as well as other areas (Magellan Aerospace). His involvement, and his commitment of funds in a private placement like this makes me quite confident in the future of our company.
Good luck,
Mike
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