iMetal Resources Inc.: Private Placement Closed
Vancouver, December 5th, 2019 - iMetal Resources Inc. (TSXV:IMR) ("iMetal" or the "Company") is pleased to announce that it has closed it's recently announced non-brokered hard dollar private placement of $309,995 for 4,428,500 units at a price of $0.07 per unit (the "Units"). Each Unit consists of one common share (the "Shares") and one two-year share purchase warrant (the "Warrants"). Each Warrant entitles the holder to purchase one additional common share, exercisable at a price of $0.10 per share for the first twelve months from the date of issue and at a price of $0.15 per share for the remaining twelve months. All securities issued under the private placement are subject to a mandatory hold period of four months plus one day following the closing of the private placement.
Finders fees totalling $5,250 in cash will be paid.
The proceeds of this private placement will be used for working capital and property development.
ON BEHALF OF THE BOARD OF DIRECTORS,
"Johan Grandin"
President & CEO, iMetal Resources Inc.
jgrandin@imetalresources.ca
Tel. (604)-739-9713
510-580Hornby St., Vancouver, BC, V6C 3B6 / https://imetalresources.ca
iMetal Resources Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. iMetal is focused on advancing its Gowganda West Project in Ontario, Canada. iMetal trades on the TSX Venture Exchange under the ticker symbol IMR. For further information, please call 604- 739-9713 or visit iMetal's website at www.imetalresources.ca.
Neither 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.