I-Minerals Inc.
I-Minerals Inc. Announces Debt Settlement and Issues Additional Bonus Shares and Bonus Warrants Pursuant to a Loan Agreement
DGAP-News: I-Minerals Inc. / Key word(s): Miscellaneous Vancouver, British Columbia–(Newsfile Corp. – January 15, 2019) – I-Minerals Inc. (TSXV: IMA) (OTCQB: IMAHF) (the ‘Company’) announces that it has agreed to issue 1,882,503 common shares at an average deemed price of $0.1507 per share in settlement of the payment of principal and interest in the aggregate amount of $283,698.77 pursuant to a loan agreement with an arm’s-length creditor, subject to regulatory acceptance. About I-Minerals Inc. I-Minerals is developing multiple deposits of high purity, high value halloysite, quartz, potassium feldspar and kaolin at its strategically located Helmer-Bovill property in north central Idaho. A 2016 Feasibility Study on the Bovill Kaolin Deposit led by GBM Engineers LLC, who were responsible for overall project management and the process plant and infrastructure design, including OPEX and CAPEX, calculated an After Tax NPV of US$249.8 million with a 25.8% After Tax IRR. Initial CAPEX was estimated at $108.3 million with a 3.7 year After Tax payback. Other engineering services were provided by HDR Engineering, Inc. (all environmental components; hydrology / hydrogeology; road design); Tetra Tech, Inc. (tailings storage facility design); Mine Development Associates (mine modelling; ore scheduling; mineral reserve estimation); and SRK Consulting (U.S.) Inc. (mineral resource estimation). The project has received mine and water permits from the State of Idaho. I-Minerals Inc. per: ‘John Theobald‘ John Theobald, Contact: I-Minerals Inc. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/42220
16.01.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | I-Minerals Inc. |
Canada | |
ISIN: | CA44973V1022 |
End of News | DGAP News Service |