I-Minerals Inc. Reports Results of AGM and Appointments
VANCOUVER, BC--(Marketwired - November 20, 2015) - I-Minerals Inc. (TSX VENTURE: IMA) (OTCQX: IMAHF) (the "Company" or "I-Minerals") announces the results of the Company's annual general meeting (the "AGM") held on November 18, 2015, in Vancouver, British Columbia.
The Company is pleased to report that, at its AGM, the shareholders voted to re-elect Allen Ball, Gary Childress, Thomas Conway, Barry Girling and Wayne Moorhouse as directors of the Company for the ensuing year.
In addition, at the AGM, the shareholders also approved the re-appointment of BDO Canada LLP, as the Company's auditor and authorized the directors to fix the auditor's remuneration, and the continuation of the Company's current Share Option Plan. For more information on these matters please refer to the Company's information circular which is available on SEDAR (www.sedar.com).
Following the AGM the Board of Directors (the "Board") met and confirmed the appointment of the following Company executive officers:
Allen Ball: Chairman of the Board
Thomas Conway: President and Chief Executive Officer; and
Matthew Anderson: Chief Financial Officer and Secretary; and
the re-appointment of the following members to the Company's Audit Committee:
Wayne Moorhouse (Chairman);
Gary Childress; and
Barry Girling
The Board would like to thank the shareholders for their ongoing support.
About I-Minerals Inc.
I-Minerals is developing multiple deposits of high purity, high value halloysite, quartz, potassium feldspar and kaolin at its strategically located Helmer-Bovill property in north central Idaho. A 2014 Prefeasibility Study on the Bovill Kaolin Deposit completed by SRK Consulting (USA) Inc. highlights the potential of the Helmer-Bovill property's Bovill Kaolin deposit: after tax NPV6 of $212 million; 30.5% IRR; 3 year payback and $72.7 million initial CAPEX; $84 million CAPEX including life of mine sustaining capital over a 25 year mine life. Ongoing development work is focused on moving the project towards production.
I-Minerals Inc.
Per: "Thomas M. Conway"
Thomas M. Conway,
President & CEO
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for the sale of securities, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by mean of a prospectus containing detailed information about the company and management, as well as financial statements.
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 NEWS RELEASE.
This News Release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: changes in the world wide price of mineral market conditions, risks inherent in mineral exploration, risk associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital.
Contact
Contact:
Barry Girling
877-303-6573 or 604-303-6573 ext. 102
Email: info@imineralsinc.com
Or visit our website at www.imineralsinc.com
Paul J. Searle
Investor Relations
877-303-6573 or 604-303-6573 ext. 113
Email: psearle@imineralsinc.com