Due to Investor Demand iMetal Increases Size of Private Placement

About this update from Imetal Resources Inc.

[{"type":"text","content":"Due to Investor Demand iMetal Increases Size of Private PlacementVANCOUVER, BC / ACCESSWIRE / March 25, 2022 / iMetal Resources Inc. (TSXV:IMR) (OTC PINK:ADTFF) (FRA:A7V2) (\"iMetal\" or the \"Company\") announces that as a result of market interest it has elected to increase the size of its previously announced non-brokered private placement (the \"Placement\"). The Company will continue to offer up to 16,666,667 units (each, a \"Unit\") at a price of $0.12 per Unit for gross proceeds of up to $2,000,000. Each \"Unit\" will consist of one common share of the Company and one common share purchase warrant exercisable to acquire an additional common share at a price of $0.20 for a period of twenty-four (24) months (each, a \"Warrant\").The Company will also offer up to 6,666,667 flow-through units (each, an \"FT Unit\") at a price of $0.15 per FT Unit for further gross proceeds of up to $1,000,000. Each \"FT Unit\" will also consist of one common share (each, an \"FT Share\") of the Company and one Warrant. The FT Shares will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada).Proceeds from the Placement will be used for the development of the Company's Gowganda West Project, as well as development of the Kerrs Gold Deposit in the event the previously announced property option is consummated and for general working capital purposes. Completion of the Placement is not contingent on the acquisition of rights to the Kerrs Gold Deposit, and the Company will proceed with the Placement even if the acquisition is not consummated.In connection with the Placement, the Company may pay finders' fees to eligible third-parties who have introduced subscribers to the Company. All securities issued in connection with the Placement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. Completion of the Placement remains subject to the approval of the TSX Venture Exchange.About iMetal Resources Inc.A Canadian based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. iMetal is focused on advancing its Gowganda West Project that borders the Juby Project, an advanced exploration-stage gold project located within the Shining Tree Camp area in the southern part of th...

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