COPPER-GOLD: Imperial closes $44M rights offering

VANCOUVER – Imperial Metals Corp. has closed a fully subscribed rights offering that grossed slightly more than $$44.0 million. Subscribers took up 3.8 million shares under the basic privilege and a further 2.3 million shares under...

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VANCOUVER – Imperial Metals Corp. has closed a fully subscribed rights offering that grossed slightly more than $$44.0 million. Subscribers took up 3.8 million shares under the basic privilege and a further 2.3 million shares under additional privileges, resulting in an oversubscription of approximately 685,500 shares. As a result of the oversubscription, Imperial issued an additional 1.65 million shares.

Imperial said it intends to use the proceeds to repay a $30-million line of credit, to support production at Red Chris copper mine and to prepare for a restart at the Mount Polley copper-gold mine. Both of these properties are in British Columbia.

Learn more at ImperialMetals.com

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