Vancouver, BC, December 5 th, 2019 – iMetal Resources Inc. (TSX.V: 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.
President & CEO
iMetal Resources, Inc.
510-580Hornby St., Vancouver, BC, V6C 3B6