Vancouver, British Columbia--(Newsfile Corp. - June 9, 2026) - iMetal Resources Inc. (TSXV: IMR) (OTCQB: IMRFF) (FSE: A7VA) ("iMetal" or the "Company") is pleased to announce that it will offer (the "Offering") up to 40,000,000 units (each, a "Unit") at a price of $0.10 per Unit, by way of non-brokered private placement, for gross proceeds of up to $4,000,000.
Each Unit will consist of one common share in the capital of the Company (each, a "Share") and one transferable share purchase warrant of the Company (each, a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Share of the Company at a price of $0.20 for a period of thirty-six months after the closing of the Offering. The Warrants will be subject to an accelerated expiry if, any time after the date that is four months and one day after the closing date of the Offering, the closing price of the Shares on the TSX Venture Exchange ("TSXV"), or such other market as the Shares may trade from time to time, is or exceeds $0.40 for ten (10) consecutive trading days, in which event the holders of the Warrants may, at the Company's election, be given notice and the Company will issue a press release announcing that the Warrants will expire thirty (30) days following the date of such press release. The Warrants may be exercised by the holder of the Warrants during the 30-day period between the date of the press release announcing the accelerated expiry date and the expiration of the Warrants.
The Company intends to use the net proceeds of the Offering towards further exploration at the Company's properties as well as for general working capital.
In connection with the Offering, the Company has engaged Integrity Capital Group Inc. ("Integrity") to act as its financial advisor and support its efforts. For further information, please contact Integrity at ecm@integritycapitalgrp.com. The Company has agreed to pay Integrity a fee on any subscribers introduced by Integrity to the Offering consisting of: (i) a cash commission equal to 8% of the gross proceeds from subscribers introduced by Integrity to the Offering; and (ii) non-transferable broker warrants (each, a "Broker Warrant") equal to 8% of the number of Units sold to subscribers introduced by Integrity to the Offering. Each Broker Warrant will entitle the holder to acquire one Unit at an exercise price of $0.10 for a period of thirty-six months after the closing of the Offering.
In connection with the Offering, the Company may also pay finders' fees to additional eligible third-parties who have assisted in introducing subscribers. Completion of the Offering remains subject to receipt of all necessary regulatory approvals and acceptance of the TSXV. All securities issued under the Offering will be subject to a statutory hold period of four months and one day from the date of issue, in accordance with applicable Canadian securities laws.
This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.
About iMetal Resources Inc.
iMetal is a Canadian-based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. The flagship property Gowganda West, is an exploration-stage gold project with a recent discovery hole of 48.5m at 0.85 g/t gold that borders the Juby Deposit and is located within the Shining Tree Camp area in the southern part of the Abitibi Greenstone Gold Belt about 100 km south-southeast of the Timmins Gold Camp. The 220-hectare Ghost Mountain property, 42 kilometres NE of Kirkland Lake, lies 5 kilometres W of Agnico Eagle's Holt and Holloway Mine. Carheil is an exploration stage project with multi-metal potential and previous graphite results. The project is about 170 km north of Rouyn-Noranda in the Northern Abitibi Greenstone Belt.
ON BEHALF OF THE BOARD OF DIRECTORS,
Saf Dhillon
President & CEO
iMetal Resources Inc.
saf@imetalresources.ca
Tel. (604-484-3031)
Suite 550, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6.
https://imetalresources.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "potential", and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of iMetal to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward-looking statements or information in this release relates to, among other things, the use of proceeds with respect to the Offering and the Company's ability to gain approval from the TSXV. These forward-looking statements are based on management's current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300823
Source: iMetal Resources Inc.
