Precious Metals

The Company is now positioned to fully execute on its 2021 diamond drilling and exploration program

IMC International Mining Corp. (CSE:IMCX) (OTCQB:IMIMF) (FRA:3MX) ("IMC" or the "Company") is pleased to announce that it has closed the second and final tranche of a non-brokered private placement offering (the "Offering") issuing an aggregate of 2,386,870 flow-through units ("FT Units") at $0.20 per FT Unit and 5,176,366 units ("Units") at $0.15 per Unit for gross proceeds of $1,253,828.90

The Company raised gross proceeds of $2,676,452 between the first and second tranches of the financing. IMC will provide additional updates in the immediate future regarding its drilling and exploration program for 2021.

Each FT Unit consists of one common share in the capital of the Company that qualifies as a "flow-through share" for the purposes of the Income Tax Act (Canada) and one non-flow-through warrant exercisable at $0.30 for 24 months from the date of issuance into a common share in the capital of the Company (a "Share"). Each Unit consists of one Share and one warrant exercisable at $0.30 for 24 months from the date of issuance into a Share.

Proceeds from the sale of the FT Units under the Offering will be used before December 31, 2022, to fund exploration programs on the Company's Thane Property in north-central British Columbia that qualify as Canadian exploration expenses and flow-through mining expenditures", as those terms are defined in the Income Tax Act (Canada), and as "BC flow-through mining expenditures" as defined the Income Tax Act (British Columbia). Proceeds from the sale of Units will be used for general working capital purposes.

In connection with the second and final tranche of the Offering, the Company paid finder's fees of $28,866.18 and issued 144,331 finder's warrants entitling the holder thereof to purchase one Share at an exercise price of $0.20 per Share for a period of 24 months from the date of issuance.

All securities issued pursuant to the second tranche of the Offering are subject to a hold period under applicable Canadian securities laws of four months and one day from the date of closing of the first tranche.

A director of the Company participated in the second and final tranche of the Offering by purchasing 100,000 FT Units. As such, the transaction constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security holders in Special Transactions ("MI 61-101"). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Offering as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related party, exceeded 25% of the Company's market capitalization. The Company did not file a material change report more than 21 days before the closing of the second and final tranche of the Offering as the details of the participation therein by a related party of the Company had not been determined until shortly prior to closing of the second and final tranche of the Offering.

The securities offered have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold absent registration or compliance with an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

ON BEHALF OF IMC INTERNATIONAL MINING CORP.

David McMillan
Interim Chief Executive Officer and Director
Telephone: +1-604-588-2110

Investor Relations:
Email: ir@imcxmining.com
Telephone: +1-604-588-2110
Website: https://imcxmining.com

ABOUT IMC INTERNATIONAL MINING CORP.

IMC is a junior exploration and development company focused on creating shareholder value through the advancements of its current assets that include the Thane Property in north-central British Columbia, and the Bullard Pass Property in Arizona. Utilizing its heavily experienced management team, IMC continues to source and evaluate assets to further generate shareholder value.

The Thane property covers approximately 206 km2 (50,904 acres) and is located in the Quesnel Terrane of north-central British Columbia, midway between the previous operated open pit Kemess Mine and the currently operating open pit Mount Milligan mine, both two copper-gold porphyry deposits. The Thane property includes several highly prospective mineralized areas identified to date, including the ‘Cathedral Area' on which the Company's exploration is currently focused.

Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions.

Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to (i) the Company's intentions to use the proceeds from the Offering to fund exploration programs on its Thane Property in north-central British Columbia and (ii) the Company's business and plans, including potential future acquisition. All forward-looking statements are based on the Company's current beliefs as well as various assumptions made by the Company and information currently available to the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct, and actual results and future events could differ materially. Readers are cautioned not to place undue reliance on any forward-looking statements in this news release. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the Company's business and financial condition potentially being materially adversely affected by the outbreak of epidemics, pandemics or other health crises such as COVID-19, and by reactions by government and private actors to such outbreaks; risks to employee health and safety as a result of the outbreak of epidemics, pandemics or other health crises such as COVID-19, that may result in a slowdown or temporary suspension of operations by the Company; the risks that the Offering may not complete as contemplated (or at all), the risks related to the Company's ability to obtain necessary regulatory approvals for the Offering; the speculative nature of the Company's business; the Company's formative stage of development; the Company's financial position; conclusions of future economic evaluations; business integration risks; fluctuations in the securities market; that the Company's plans and prospects will vary from those stated in this news release; that the Company does not complete any further acquisitions; that the Company does not carry out exploration activities in respect of its mineral projects as planned (or at all); and that the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements in this news release. Although the Company believes that the expectations reflected in the forward- looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. All forward-looking statements in this news release are made as of the date of this release.

The Canadian Securities Exchange has not reviewed, approved or disapproved of the contents of this news release.

SOURCE: IMC International Mining Corp.



View source version on accesswire.com:
https://www.accesswire.com/648179/IMC-International-Mining-Corp-Announces-Closing-of-Second-and-Final-Tranche-of-Private-Placement

News Provided by ACCESSWIRE via QuoteMedia

Interra Copper

Interra Copper


Keep reading...Show less

Yamana Gold Provides Notice of Second Quarter 2022 Results

YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:AUY) ("Yamana" or "the Company") will release its second quarter 2022 operational and financial results after the market closes on Thursday, July 28, 2022, Eastern Daylight Time ("EDT"). The Company will then host a conference call and webcast to review the results on Friday, July 29, 2022 at 9:00 a.m. EDT.

The Company also plans to provide a pre-release of production for the second quarter with a further update on certain optimizations and project advancements on or around Thursday, July 7, 2022.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
gold coins and us money

VIDEO — Will Rhind: Upside Favors Gold; Strong US Dollar Checking Gains for Now

Will Rhind: Upside Favors Gold; Strong US Dollar Checking Gains for Nowyoutu.be

Strength in the US dollar is keeping the gold price in check right now, but that won't last forever.

Speaking to the Investing News Network, Will Rhind, CEO of GraniteShares, said the yellow metal is in a good position given market conditions and looks set to strengthen moving forward.

"(Gold has) really managed to shrug off a lot of the negatives around rising rates and a strong dollar, and I think people have got to ask themselves, 'How much more can the dollar strengthen from here? ... Realistically is there more upside for the dollar here, or for gold?' I think clearly I'm in the camp of favoring gold on that one," he said.

Keep reading...Show less
12 Largest Producers of Gold by Country (Updated 2022)

12 Largest Producers of Gold by Country (Updated 2022)

The gold price has tracked higher in the past few years, sparking interest in the biggest producers.

The precious metal’s price gains have come along with the uncertainty born from the global economic impact of the COVID-19 outbreak, as well as geopolitical turmoil.

These circumstances have left investors seeking safe-haven assets like gold. So far gold production levels have seemed to defy pandemic disruptions, but rising inflation is likely to push up costs for miners.

Keep reading...Show less

AGNICO EAGLE PROVIDES NOTICE OF RELEASE OF SECOND QUARTER 2022 RESULTS AND CONFERENCE CALL

Stock Symbol: AEM (NYSE and TSX)

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (" Agnico Eagle " or the " Company ") today announced that it will release its second quarter 2022 results on Wednesday, July 27, 2022 after normal trading hours.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
gold bars

VIDEO — Kal Kotecha: Gold Price Holding Up Well, Time to Watch for Buying Opportunities

Kal Kotecha: Gold Price Holding Up Well, Time to Watch for Buying Opportunitiesyoutu.be

Gold's performance has disappointed some market participants this year, but according to Dr. Kal Kotecha of Junior Gold Report, the yellow metal is holding up well compared to other assets.

Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, Kotecha said that looking back over the last 20 years, gold has outperformed major indexes like the S&P 500 (INDEXDJX:.DJI).

"A lot of people want to see gold at US$5,000 and US$10,000 (per ounce), kind of like how bitcoin rose quite a bit. But gold is a different beast in itself," he said. "So in my opinion gold is doing well."

Keep reading...Show less

Kinross provides update on Great Bear project and U.S. projects

(All dollar amounts are expressed in U.S. dollars, unless otherwise noted.)

Kinross Gold Corporation (TSX:K; NYSE:KGC) ("Kinross" or the "Company") is pleased to provide an update on its Red Lake, Ontario-based Great Bear project, as well as its Manh Choh project in Alaska and Curlew exploration project in Washington State.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×