Imperial Announces Normal Course Issuer Bid
March 22 2018 - 9:00AM
Imperial Metals Corporation (the “Company”)
(TSX:III) announces the Toronto Stock Exchange (the “TSX”) has
accepted the Company’s Notice of Intention to make a Normal Course
Issuer Bid (the “Bid”) to be transacted through the facilities of
the TSX or alternative Canadian market places.
Pursuant to the Bid, the Company may purchase up
to 525,864 common shares, which represents 0.45% of the total
116,858,746 common shares of the Company issued and outstanding as
of March 21, 2018. Purchases will be made, at the discretion of the
Company at prevailing market prices, commencing March 26, 2018 and
ending no later than March 25, 2019. Pursuant to TSX policies,
daily purchases made by the Company will not exceed 27,933 common
shares or 25% of the Company’s average daily trading volume of
111,733 common shares on the TSX, subject to certain prescribed
exceptions.
The shares acquired under the Bid will be used
to satisfy the Company’s obligations under its Non-Management
Directors’ Plan and Share Purchase Plan (the “Plans”). The funding
for any purchase pursuant to the Bid will be financed out of the
working capital of the Company. In the previous 12 months, the
Company has repurchased 34,300 of its outstanding common shares at
the average price per share of $5.41. The common shares have or
will be allocated to satisfy the Company’s obligations under the
Plans. A copy of the Company’s Notice filed with the TSX may be
obtained, by any shareholder without charge, by contacting the
Company’s Chief Financial Officer.
About Imperial
Imperial is a Vancouver exploration, mine
development and operating company. The Company, through its
subsidiaries, owns the Red Chris, Mount Polley and Huckleberry
copper mines in British Columbia. Imperial also holds a 50%
interest in the Ruddock Creek lead/zinc property.
Company ContactsBrian Kynoch
| President | 604.669.8959Andre
Deepwell | Chief Financial Officer
| 604.488.2666Gordon Keevil |
Vice President Corporate Development |
604.488.2677Sabine Goetz | Shareholder
Communications | 604.488.2657 |
investor@imperialmetals.com
Forward-Looking Information and Risks
Notice
This news release contains “forward-looking
information” or “forward-looking statements” within the meaning of
Canadian and United States Securities Laws, which we will refer to
as “forward-looking information”. Except for statements of
historical fact relating to the Company, certain information
contained herein constitutes forward-looking information. If we
discuss mine plans; costs and timing of current and proposed
exploration, development, production and marketing; capital
expenditures; cash flow; working capital requirements and the
requirement for additional capital; operations; revenue; margins
and earnings; future prices of copper and gold; future foreign
currency exchange rates; future accounting changes; future prices
for marketable securities; future resolution of contingent
liabilities; receipt of permits; or other matters that have not yet
occurred, we are making statements considered to be forward-looking
information or forward-looking statements under Canadian and United
States Securities Laws.
The forward-looking information in this press
release may include words and phrases about the future, such as:
plan, expect, forecast, intend, anticipate, estimate, budget,
scheduled, believe, may, could, would, might or will. We can give
no assurance the forward-looking information will prove to be
accurate. It is based on a number of assumptions management
believes to be reasonable, including but not limited to: the
continued operation of the Company’s mining operations, no material
adverse change in the market price of commodities or exchange
rates, that the mining operations will operate and the mining
projects will be completed in accordance with their estimates and
achieve stated production outcomes and such other assumptions and
factors as set out herein. It is also subject to risks associated
with our business, including but not limited to: risks inherent in
the mining and metals business; commodity price fluctuations and
hedging; competition for mining properties; sale of products and
future market access; mineral reserves and recovery estimates;
currency fluctuations; interest rate risks; financing risks;
regulatory and permitting risks; environmental risks; joint venture
risks; foreign activity risks; legal proceedings; and other risks
that are set out in the Company’s current Management’s Discussion
& Analysis. If our assumptions prove to be incorrect or risks
materialize, our actual results and events may vary materially from
what we currently expect as provided in this press release. We
recommend review of the Company’s current Management’s Discussion
& Analysis, which includes discussion of material risks that
could cause actual results to differ materially from our current
expectations. Forward-looking information is designed to help you
understand management’s current views of our near and longer term
prospects, and it may not be appropriate for other purposes. We
will not necessarily update this information unless we are required
to by securities laws.
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