Business
IMC International Mining Corp. Announces Strategic Flow-Through Non-Brokered Financing of CDN $5.25 million
VANCOUVER, BC / ACCESSWIRE / February 11, 2021 / IMC International Mining Corp. (CSE:IMCX) (OTC Pink:IMIMF) (FRA:3MX) (the "Company" or "IMC"), is pleased to an
About this update from Copper Quest Exploration Inc.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / February 11, 2021 / IMC International Mining Corp. (CSE:IMCX) (OTC Pink:IMIMF) (FRA:3MX) (the \"Company\" or \"IMC\"), is pleased to announce that it intends to complete a non-brokered private placement offering (the \"Offering\") of up to 15,000,000 flow-through units of the Company (the \"FT Units,\" and each \"FT Unit\") at a price of $0.35 CDN per FT Unit for gross proceeds of up to $5,250,000 CDN. Each FT Unit will be comprised of one common share of the Company that qualifies as a \"flow-through share\" for the purposes of the Income Tax Act (Canada) (an \"FT Unit Share\") and one-half of one common share purchase warrant (each whole common share purchase warrant, a \"Warrant\"). Each Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.50 CDN at any time prior to the date that is twenty-four (24) months following the closing date of the Offering. The gross proceeds raised from the sale of the FT Units under the Offering will be used by the Company to fund exploration programs on its Thane Property in north-central British Columbia that qualify as \"Canadian Exploration Expenses\" (\"CEE\") and \"flow-through mining expenditures,\" as those terms are defined in the Income Tax Act (Canada). The Warrants are subject to accelerated expiry if the volume weighted average closing price of the Common Shares on the Canadian Securities Exchange is equal to or greater than $0.80 CDN for a period of ten consecutive trading days, in which case the Company will have the option, but not the obligation, to accelerate the expiry to 20 days from the date of notice.Finder's fees may be payable in appropriate circumstances in connection with the Offering. The FT Unit Shares and the Warrants issued pursuant to the Offering will be subject to a hold period under applicable Canadian securities laws of four months and one day from the closing date of the Offering. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under ...