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Imperial Metals Reminds Shareholders of Previously Announced Rights Offering
VANCOUVER, British Columbia, June 20, 2022 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the "Company") (TSX:III) would like to remind its shareholders of th
About this update from Imperial Metals Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, June 20, 2022 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the \"Company\") (TSX:III) would like to remind its shareholders of the upcoming deadlines and essential details of its previously announced rights offering (the “Rights Offering”) made to the holders of common shares of the Company (“Common Shares”) of record at the close of business (Pacific Time) on May 31, 2022. The rights (“Rights”) will expire at 2:00 p.m. (Pacific Time) on June 24, 2022 (the \"Expiry Time\"), after which time unexercised rights will be void and of no value. The Company issued one Right for each outstanding Common Share. Each Right is exercisable to acquire 0.125 Common Shares of the Company, upon payment of the subscription price of $3.04 per Common Share (called the “Basic Subscription Privilege”). Fractional shares will not be issued and any fractions will be rounded down to the nearest whole number. To illustrate: an eligible holder of 10,000 shares as of the record date would be issued 10,000 Rights, which would entitle the holder to subscribe for 1,250 shares (10,000 x 0.125) for an aggregate price of C$3,800 (1,250 x C$3.04). Shareholders who fully exercise their Rights will be entitled to subscribe pro rata for additional Common Shares in the Rights Offering, if available, as a result of unexercised Rights prior to the Expiry Time, subject to certain limitations set out in the Company’s rights offering circular dated May 19, 2022 (the “Rights Offering Circular”). A rights offering notice (“Notice”) and Rights DRS advice statements (“Rights DRS”) were mailed to each registered shareholder of the Company resident in Canada and certain other eligible jurisdictions as at the record date. Registered shareholders who wish to exercise their Rights must forward the completed Rights DRS, together with the applicable funds, to the Rights agent, Computershare Investor Services Inc., on or before the Expiry Time. Eligible shareholders who own their Common Shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary. It is important to note that many intermediaries may have different cut off times prior to the Expiry Time. As such, the Company recommends that all eligible shareholders who own their Common Shares through an int...