Imperial Mining Adds Financial Market Expertise Nominates Nick Nikolakakis to the Board

Rhea-AI Summary

Imperial Mining Group Ltd. (OTCQB: IMPNF) has announced the nomination of Nick Nikolakakis to its Board of Directors. With over 26 years of experience in the mining sector, he has raised over $2 billion in capital and served in senior roles at various notable mining companies. Nikolakakis aims to support the development of Imperial's Crater Lake scandium project, targeting production of materials that reduce carbon emissions. The company also granted him 300,000 stock options at $0.13 per share, pending TSX approval.

Positive

• Nick Nikolakakis brings over 26 years of relevant experience in the mining sector, potentially enhancing strategic decision-making.
• His history of raising over $2 billion in capital may strengthen Imperial's financial positioning.

Negative

• None.

MONTREAL, Nov. 26, 2021 (GLOBE NEWSWIRE) -- Imperial Mining Group Ltd. ("Imperial") (TSX VENTURE: IPG; OTCQB: IMPNF) is pleased to announce that it has nominated Mr. Nick Nikolakakis, MBA, to the Board of Directors.

Nick Nikolakakis, MBA, Director

We are pleased to announce that Nick Nikolakakis has accepted to join Imperial Mining Group’s Board of Directors.

Mr. Nikolakakis has over 26 years of senior management, strategic and capital planning, and finance and accounting experience within the mining sector and has raised over $2 billion in capital. He was Vice President, Finance and Chief Financial Officer of Battle North Gold from October 2013 until May 2021 when the Company was acquired by Evolution Mining Limited; Mr. Nikolakakis has also served as a senior officer or in senior management of several public mining companies including Rainy River Resources Ltd., Barrick Gold Corporation, Placer Dome Canada, and North American Palladium Ltd.

Mr. Nikolakakis holds an Applied Science degree in Geological Engineering from the University of Waterloo and a Master’s Degree of Business Administration from the University of Western Ontario’s Ivey School of Business.

“I am very pleased that Nick Nikolakakis has agreed to join us,” said Peter J. Cashin, Imperial’s President & CEO. “Nick shares my vision of the significant value proposition that our Crater Lake scandium project offers and will work me to attract the necessary financial support to move the project to production . Our intent is to provide manufacturers with the next-generation, high-strength, lightweight and corrosion-resistant materials to reduce the carbon emissions footprint of their platforms. Please join me in welcoming Nick to the Imperial Team. I look forward to his contribution in supporting Imperial’s intention of being North America’s first pure scandium provider.”

The Corporation also announces it has granted 300,000 incentive stock options of the Corporation to Nick in accordance with the Corporation’s stock option plan. The options are exercisable at a price of $0.13 per share for a period of five years from the date of grant in accordance with the Plan’s vesting provisions. The options are subject to the approval of the TSX Venture Exchange.

ABOUT IMPERIAL MINING GROUP LTD.

Imperial is a Canadian mineral exploration and development company focused on the advancement of its technology metals projects in Québec. Imperial is publicly listed on the TSX Venture Exchange as “IPG” and on the OTCQB Exchange as “IMPNF” 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 Phone: +1 (514) 360-0571 Email: info@imperialmgp.com

CHF Capital Markets Cathy Hume, Chief Executive Officer Phone: +1 (416) 868-1079 x231 Email: cathy@chfir.com

Website: www.imperialmgp.com

Twitter: @imperial_mining

Facebook: Imperial Mining Group

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.

FAQ

Who is Nick Nikolakakis in relation to Imperial Mining Group?

Nick Nikolakakis has been nominated to the Board of Directors of Imperial Mining Group, bringing substantial experience in the mining sector.

What experience does Nick Nikolakakis have?

He has over 26 years of experience in senior management, strategic and capital planning, and finance within the mining sector.

What project will Nick Nikolakakis support at Imperial Mining Group?

He will support the development of the Crater Lake scandium project, which aims to produce high-strength materials to reduce carbon emissions.

What are the details of the stock options granted to Nick Nikolakakis?

Nick was granted 300,000 stock options at a price of $0.13 per share for a period of five years, pending TSX Venture Exchange approval.