VANCOUVER, British Columbia, Dec. 22, 2017 — Imperial Metals Corporation (the “Company”) (TSX:III) is pleased to announce the successful completion of its rights offering, which expired at 2:00 p.m. (Pacific Time) today. The Company issued a total of 19,080,978 common shares in the rights offering for gross proceeds of approximately $42.9 million. The Company issued a total of 16,119,049 common shares under basic subscription privileges in the rights offering and a total of 2,961,929 common shares under additional subscription privileges. To the knowledge of the Company, no person will become an insider as a result of the rights offering. The total number of issued and outstanding common shares of the Company upon completion of the rights offering is 114,505,472. Since all of the shares available in the rights offering were subscribed for by holders of rights, no additional shares were required to be issued pursuant to the Company’s Standby Guarantee Agreement with N. Murray Edwards (“Edwards”) and East Lane LLC (“East Lane”), whose investments are managed by Fairholme Capital Management, LLC. The proceeds of the rights offering will be used as set out in the Company’s rights offering circular dated November 20, 2017, including the payment of fees to Edwards and East Lane in accordance with the Standby Guarantee Agreement. This news release does not constitute an offer for sale or the solicitation of an offer to buy any securities in the United States. The securities regarding the Standby Guarantee Agreement referenced herein have not been registered under the Unites States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent such registration or an applicable exemption from such registration requirements. The Company registered the offer and sale of the shares issuable on exercise of the rights on a Form F-7 registration statement (File No. 333-221700) under the U.S. Securities Act of 1933, as amended, a copy of which can be found at www.sec.gov and may also be obtained by contacting the Chief Financial Officer at 604.488.2666 or by email at [email protected] — About Imperial
Imperial is an exploration, mine development and operating company based in Vancouver, British Columbia. The Company, through its subsidiaries, owns the Mount Polley copper/gold mine in British Columbia the Red Chris copper/gold mine in northern British Columbia, and the Huckleberry copper mine located near Houston, British Columbia. Imperial Contact Information
Brian Kynoch | President | 604.669.8959
Andre Deepwell | Chief Financial Officer | 604.488.2666
Gordon Keevil | Vice President Corporate Development | 604.488.2677
Sabine Goetz | Shareholder Communications | 604.488.2657 | [email protected]Forward-Looking Information and Risks NoticeForward-looking statements relate to future events or future performance and reflect Company management's expectations or beliefs regarding future events and include, but are not limited to, specific statements regarding the rights offering, the stand-by commitment of Edwards and East Lane and the intended use of proceeds raised under the rights offering. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “outlook”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. In this document certain forward-looking statements are identified by words including “guidance”, “expectations”, “targeted”, “plan”, “planned”, “estimated”, “calls for” and “expected”. Forward-looking information is not based on historical facts, but rather on then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which Imperial operates, including assumptions that the rights offering will provide sufficient liquidity to support the Company’s intended use of the proceeds therefrom. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. We can give no assurance that the forward-looking information will prove to be accurate. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks that the rights offering will not provide the expected liquidity or benefits to the Company’s business or operations; risks that required consents and approvals will not be received in order to advance or complete the rights offering; operational risks and hazards, including unanticipated environmental, industrial and geological events and developments and the inability to insure against all risks; risks of failure of plant, equipment, processes, transportation and other infrastructure to operate as anticipated; and other risks of the mining industry as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.
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