iMetal Resources corrects finders' fees in financing

Executive Summary

• iMetal Resources closed a non‑brokered private placement of 10,720,999 units at C$0.105 per unit, raising gross proceeds of $1,125,705.
• The company disclosed that the original release misstated the finders’ fees; the correct amount paid was $53,606, and 550,436 non‑transferable finder warrants were issued to third parties.
• All securities are subject to a statutory hold period until December 30 2025.

Key Details

• Units Issued: 10,720,999 units (each unit = 1 common share + 1 transferable share purchase warrant).
• Pricing: C$0.105 per unit; total gross proceeds $1,125,705.
• Warrant Terms: Each transferable warrant allows the holder to purchase one additional share at C$0.20 until August 29 2027, with an acceleration clause if TSX‑V’s VWAP exceeds C$0.50 for 10 consecutive trading days.
• Finders’ Fees: Corrected amount paid $53,606 (previously misstated).
• Finder Warrants Issued: 550,436 non‑transferable share purchase warrants issued to arm’s‑length third parties; exercisable on the same terms as the transferable warrants.
• Statutory Hold Period: All securities issued are subject to a hold period until December 30 2025 per Canadian securities law.

Notable Quotes

(No direct quotes were provided in the release.)