By Sheri Kasprzak
New York, Feb. 2 - Imperial Metals Corp. said it has negotiated a private placement for up to C$6.5 million.
The deal includes 1 million shares, offered on a non-brokered basis.
Proceeds will be used for drilling and exploration on the company's Sterling gold mine in Nevada. The remainder will be used for working capital and general corporate purposes.
Based in Vancouver, B.C., Imperial is a gold and molybdenum exploration company.
| Issuer: | Imperial Metals Corp.
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| Issue: | Stock
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| Amount: | C$6.5 million
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| Shares: | 1 million
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| Price: | C$6.50
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| Warrants: | No
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| Placement agent: | Non-brokered
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| Pricing date: | Feb. 2
|
| Stock symbol: | Toronto: III
|
| Stock price: | C$7.25 at close Feb. 2
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