iMetal Adds Flow-Through Shares to Equity Financing to Fund Development of Projects and Engages ITG as Market-Maker

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[{"type":"text","content":"iMetal Adds Flow-Through Shares to Equity Financing to Fund Development of Projects and Engages ITG as Market-MakerVANCOUVER, BC / ACCESSWIRE / March 8, 2022 / iMetal Resources, Inc. (TSXV:IMR)(OTC PINK:ADTFF)(FRA:A7V2) (\"iMetal\" or the \"Company\") is pleased to announce that (as per the original news release dated January 25th, 2022 & the follow up news release dated February 2nd, 2022) it will conduct a non-brokered private placement (the \"Placement\") of 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 (each, a \"Warrant\") warrant exercisable to acquire an additional common share at a price of $0.20 for a period of twenty-four (24) months.The Company also announces that it will conduct a portion of the placement through issuance of units on a flow-through basis (each, an \"FT Unit\") at a price of $0.15 per FT Unit. Each \"FT Unit\" will 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).The Company intends to use net proceeds from the Placement towards exploration activities at the Company's Gowganda West property that is located in the Abitibi Greenstone Gold Belt; exploration activities at the 665 hectares road accessible Kerrs Gold Deposit that lies about 90 kilometres east-northeast of Timmins, Ontario in the Abitibi Greenstone Gold Belt, in the event the previously announced property option is consummated; and for general working capital.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 Exchange.The Company also announces that, subject to regulatory approval, it has engaged the services of Independent Trading Group (\"ITG\") to provide market-making services . ITG will trade shares of the Company with the objective of maintaining a reasonable market and improving the liquidity of the ...

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