Imperial Metals Corporation announced a non brokered private placement to issue unsecured non-convertible debentures for the gross proceeds of CAD 45,000,000 on February 6, 2024. The Debentures have a maturity date of November 1, 2025 and bear interest at a rate of 12% per annum, with interest paid semi-annually in cash, with the first payment due September 1, 2024. The Debentures have an early redemption premium of 2% payable on the principal amount outstanding if the Company chooses to redeem them prior to maturity.

The transaction will include participation from individual investor N. Murray Edwards has agreed to purchase up to CAD 35,000,000 of the Debentures, and directors and officers of the Company are expected to purchase an aggregate of up to CAD 1,800,000 of the Debentures.