- Imperial Mining (IPG) has closed a non-brokered private placement for gross proceeds of $300,000
- The offering included 2,000,000 FT shares at a price of $0.15 per share
- Net proceeds will be used to complete exploration drilling on the Southern Lobe of the corporation’s Crater Lake
- Imperial Mining Group Ltd is a Canada-based company that deals with the acquisition and exploration of mining properties
- Imperial Mining Group (IPG) opened trading at C$0.10
Imperial Mining (IPG) has closed a non-brokered private placement for gross proceeds of $300,000.
The offering included 2,000,000 FT shares at a price of $0.15 per share.
“I am very thankful for the continued financial support we have received from WCPD to advance the development of the Crater Lake scandium-rare earth project,” 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 continued application for Quebec and Canadian Government-sponsored R&D grants show recognition of the potential that scandium has as a significant Canadian industrial development.”
Net proceeds will be used to complete exploration drilling on the Southern Lobe of the corporation’s Crater Lake scandium-rare earth zone above the -100 m vertical level of the TG Zone and to complete process flow sheet optimization and other corporate purposes.
All securities issued are subject to a statutory hold period of four months from the closing.
Imperial Mining Group Ltd is a Canada-based company that deals with the acquisition and exploration of mining properties.
Imperial Mining Group (IPG) opened trading at C$0.10.
