August 8, 2022

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Imperial Completes Rights Offering | Financial Post

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VANCOUVER, British Columbia, June 27, 2022 (GLOBE NEWSWIRE) — Imperial Metals Corporation (the “Company”) (TSX:III) is pleased to announce the completion of its previously announced rights offering (the “Rights Offering”), which expired at 2:00 p.m. (Pacific Time) Friday, June 24, 2022. The Company will issue a total of 13,475,400 common shares in the Rights Offering for gross proceeds of approximately $41.0 million.

The Company will issue a total of 9,948,611 common shares under basic subscription privileges in the Rights Offering and a total of 3,526,789 common shares under additional subscription privileges. To the knowledge of the Company, no person will become an insider as a result of the Rights Offering. The total number of issued and outstanding common shares of the Company upon completion of the Rights Offering will be 154,871,341.

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The proceeds of the Rights Offering will be used as set out in the Company’s Rights Offering circular dated May 19, 2022.

Shareholdings of N. Murray Edwards

As a result of the Rights Offering, N. Murray Edwards beneficially will own and control 69,375,775 common shares of the Company, representing 44.80% of the Company’s issued and outstanding common shares as of the date hereof. Prior to the Rights Offering, Mr. Edwards owned and controlled 59,622,910 common shares, representing 42.17% of the Company’s issued and outstanding common shares. The common shares were acquired by Mr. Edwards for investment purposes and he may acquire or…

GlobeNewswire

2022-06-27 03:10:08

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