By Sheri Kasprzak
Atlanta, Oct. 21 - Imperial Metals Corp. finished a C$15.6 million private placement, the company said Thursday.
The company sold 900,000 common shares at C$7.50 and 300,000 flow-through common shares at C$9 to investors. Directors, officers, employees and associates of the company also bought 425,000 common shares and 400,000 flow-through common shares under the same terms.
Imperial is a base and precious metals exploration company based in Vancouver, B.C. The company plans to use the proceeds from the financing to fund operations at its Mount Polley mine and general working capital.
| Issuer: | Imperial Metals Corp.
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| Issue: | Stock
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| Amount: | C$15.6 million
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| Placement agent: | Haywood Securities Inc. and First Associates Investments Inc.
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| Settlement date: | Oct. 21
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| Stock price: | C$7.90 at close Oct. 21
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|
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| Common shares
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| Issue: | 1.325 million common shares
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| Price: | C$7.50
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| Warrants: | No
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| Flow-through common shares
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| Issue: | 700,000 flow-through common shares
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| Price: | C$9
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| Warrants: | No
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