The Prospector News

Imperial Mining Announces Closing of a $3,000,000 Private Placement of Shares

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Imperial Mining Announces Closing of a $3,000,000 Private Placement of Shares






Imperial Mining Group Ltd. (TSX-V: IPG) (OTCQB: IMPNF) is pleased to announce that it has closed today a non-brokered private placement of 14,634,148 shares on a “flow-through” basis at a price of $0.205 per share for gross proceeds of $3,000,000.34 or a 46.4% premium to IPG’s current share price.


“I am very pleased with the positive response for this important flow-through private placement,” said Imperial President & CEO, Peter Cashin. “This financing added important, new high-net worth international investors into the Imperial Mining fold. I believe that our successful financings and recent awarding of Government-sponsored R&D grants shows a greater recognition of the potential that scandium has as a significant Canadian industrial development.”


Imperial will use the proceeds of the Offering to complete exploration drilling of the Corporation’s Crater Lake scandium-rare earth mineralized targets, convert the existing TG Zone inferred resource to Indicated category, optimize the recently Patented metallurgical recovery flow sheet for the project and for other corporate purposes. An 18-tonne bulk sample collected earlier this summer will ultimately be used for input in a planned scandium recovery pilot plant later in 2022.


The Shares were issued as part of a charity flow-through arrangement. No commission or finders’ fee was paid by the Corporation in connection with this Offering. The Offering is between arm’s length parties and all securities issued pursuant to the Offering are subject to the applicable statutory hold period of four months and one day from the closing. The Offering is subject to the final approval of the TSX Venture Exchange.




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.


Posted December 31, 2021

Share this news article


Omai Intersects Gold in Broccoli Hill Trenches and Drill Holes

Omai Gold Mines Corp. (TSX-V:OMG) is pleased to announce explorat... READ MORE

January 19, 2022

Monument Announces Burnakura Phase 1 Assay Results Including High-Grade Gold at Junction Target

Monument Mining Limited (TSX-V: MMY) (FSE: D7Q1) is pleased to an... READ MORE

January 19, 2022

Doré Copper Intersects 3.7 Meters at 9.41% Copper, 2.84 g/t Gold and 36.5 g/t Silver at Corner Bay – Continues to Expand Deposit

Doré Copper Mining Corp. (TSX-V: DCMC) (OTCQX: DRCMF) (FRA: DCM) is ple... READ MORE

January 19, 2022

Golden Tag Drills 272 g/t Ag.Eq over 7.8 m & 100 g/t Over 322.9 m Extending Endoskarn Zone 50 m SW

Golden Tag Resources Ltd. (TSX-V: GOG) (OTCQB: GTAGF) is pleased to anno... READ MORE

January 19, 2022

Barrick Delivers on Production Targets for the Third Consecutive Year

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) announced prelimin... READ MORE

January 19, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News