MONTREAL, QUEBEC – November 23, 2018 – Imperial Mining Group Ltd. ("Imperial" or the “Corporation”) (TSX VENTURE: IPG) is pleased to announce that it has successfully closed the third and final tranche of its non-brokered private placement (the "Offering") and issued 450,000 units of the Corporation (each a “Unit”) at a price of $0.08 per Unit, for total cumulative gross proceeds of $436,600.
Each Unit is comprised of one (1) common share of the Corporation (each a “Share”) and one half of one (1/2) Share purchase warrant, with each whole warrant entitling the holder to acquire one (1) Share at a price of $0.11 per Share until November 23, 2020 for this tranche.
The Corporation will use the proceeds of the Offering for exploration work on its properties and for working capital purposes.
All securities issued pursuant to this tranche of the Offering are subject to the applicable statutory four month hold period ending March 24, 2019. The Offering is subject to the final approval of the TSX Venture Exchange.
ABOUT IMPERIAL MINING GROUP LTD.
Imperial is a new Canadian mineral exploration and development company focussed on the advancement of its copper-zinc, gold and technology metals properties in Québec. Imperial is publicly listed on the TSX Venture Exchange as “IPG” and is led by an experienced team of mineral exploration and development professionals with a strong track record of mineral deposit discovery in numerous metal commodities.
For further information please contact:
Peter J. Cashin
President and Chief Executive Officer
Tel: +1 (514) 360-0571
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.