🕐21.07.08 - 22:52 Uhr
i-minerals financing closes
i-minerals inc.
Suite 880 - 580 Hornby Street
Vancouver, BC, V6C 3B6
Phone: 604.303.6573
Fax: 604.684.0642
Email:
Private Placement Closed; $906,019 raised
Vancouver, BC, July 21, 2008 i-minerals inc.
(TSX.V:IMA) announces that it
has closed a non-brokered private placement of 1,510,032 units at a price of
$0.60 per unit for proceeds of $906,019.
Each unit is comprised of one
share and one share purchase warrant entitling the holder to acquire an
additional share at a price of $0.70 per share until expiry on January 20,
2010.
Proceeds of the offering will be used for the continued development
of the Helmer - Bovill property including the ongoing feasibility study on
the Kellys Basin feldspar - quartz deposit and further evaluation of kaolin
and halloysite targets as well as general working capital.
In connection
with the financing, the Company paid 10% finders fees on a portion of the
units subscribed through the issuance of 8,000 units identical to those
placed in the offering.
All shares issued pursuant to this financing will
bear a legend wherein they may not be traded until November 22, 2008.
This press release is not an offer of the securities for sale in the United
States.
The securities offered have not been registered under the United
States Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an exemption from the registration
requirements.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of the
securities in any state of the United States in which such offer,
solicitation or sale would be unlawful.
i-minerals inc.
per: "Roger Kauffman"
Roger Kauffman,
President & CEO
Contact:
Barry Girling
Encompass Communications Inc.
877-303-6573 or 604-303-6573
604.630.0770
Email:
Or visit our website at www.imineralsinc.com
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release
This News Release includes certain "forward looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of
1995.
Forward-looking statements look into the future and provide an opinion
as to the effect certain events and trends on our business.
Forward-looking
statements may include words such as "plans," "intends," "anticipates,"
"should," estimates," "believes," and similar expressions.
These forward
looking statements are based upon expectations and entail certain risks and
uncertainties.
Actual results may materially differ from expectations, if
known and unknown risks or uncertainties affect our business, or if our
estimates or assumptions prove inaccurate.
Except as required by law,
i-minerals assumes no obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or any
other reason.
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