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Imperial Mining Announces First Tranche Closing of Private Placement
Imperial Mining Announces First Tranche Closing of Private Placement Canada NewsWi...
About this update from Scandium Canada Ltd Class A
[{"type":"text","content":"\n\n\n\nImperial Mining Announces First Tranche Closing of Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, May 17, 2019\n\n\n\nMONTREAL, May 17, 2019 /CNW/ - Imperial Mining Group Ltd. (\"Imperial\" or the \"Corporation\") (TSX VENTURE: IPG) is pleased to announce that it has closed the first tranche of 1,750,000 units (each a \"Unit\") and 2,711,112 common shares (each a \"FT Share\") issued on a \"flow-though\" basis in the capital of the Corporation of a non-brokered private placement (the \"Offering\") for gross proceeds of $384,000. This tranche is part of a total Offering of up to 15,000,000 Units at a price of $0.08 per Unit and 10,000,000 FT Share at a price of $0.09 per share. Each Unit is comprised of one (1) common share (each a \"Share\") and one Share purchase warrant, with each whole warrant entitling the holder to acquire one (1) Share of the Corporation at a price of $0.11 for period of 24 months.\nThe Corporation will use the proceeds of the Offering for exploration work on its properties ad other corporate purposes.\nIn connection with this first tranche of the Offering, the Corporation paid finders' fees totalling $14,000 cash and issued 155,556 Share purchase warrants of the Corporation, each entitling to acquire one (1) Share until November 17, 2020 at an exercise price of $0.11 per Share.\nAll securities issued pursuant to this tranche of the Offering are subject to the applicable statutory hold period ending June 24, 2019. The Offering is subject to the final approval of the TSX Venture Exchange. \nABOUT IMPERIAL MINING GROUP LTD.\nImperial is a new Canadian mineral exploration and development company focussed on the advancement of its copper-zinc, gold and technology metals properties in Québec. Imperial is publicly listed on the TSX Venture Exchange as \"IPG\" and is led by an experienced team of mineral exploration and development professionals with a strong track record of mineral deposit discovery in numerous metal commodities. \nNeither TSX Venture Exchange nor its Regulation Services P...