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iMetal Resources Inc. (TSXV:IMR)(OTCQB:IMRFF)(FRANKFURT:A7V), a Canadian junior exploration company, focuses on developing resource properties in Ontario and Quebec. The company recently announced a gold discovery at their Gowganda West project and is actively engaged in drilling programs in Ontario and Quebec.
iMetal Resources (IMRFF) has completed the first tranche of its non-brokered private placement, raising $670,002.90 through the issuance of 4,466,686 Units at $0.15 per Unit. Each Unit includes one common share and one transferable warrant, exercisable at $0.20 for two years. The proceeds will fund exploration work and general working capital. The securities have a hold period until April 21, 2025.
The company paid finders' fees totaling $21,577.50 and issued 143,850 Warrants to various financial firms. Company insiders participated in the placement, acquiring 666,667 Units, constituting a related party transaction exempt from formal valuation requirements under MI 61-101.
iMetal Resources has announced a non-brokered private placement offering to raise up to $1.5 million through the sale of 10 million units at $0.15 per unit. Each unit includes one common share and one transferable share purchase warrant, with each warrant allowing the purchase of an additional share at $0.20 for two years from closing. The proceeds will fund exploration and drilling at the company's properties and general working capital. The securities will have a four-month and one-day hold period, and finder's fees may be paid subject to TSX Venture Exchange approval.
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