Imperial Announces Normal Course Issuer Bid
May 14 2024 - 6:52PM
Imperial Metals Corporation (“Imperial” or 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 trading systems.
Pursuant to the Bid, the Company may purchase up
to 809,357 common shares, which represents 0.5% of the total
161,871,341 common shares of the Company issued and outstanding as
of May 14, 2024. Purchases will be made, at the discretion of the
Company, at prevailing market prices, commencing May 17, 2024 and
ending no later than May 16, 2025. Pursuant to TSX policies, daily
purchases made by the Company will not exceed 11,694 common shares
or 25% of the Company’s average daily trading volume of 46,777
common shares on the TSX, subject to certain prescribed
exceptions. The common shares acquired under the Bid
will be used to satisfy the Company’s obligations under its
Non-Management Directors’ Plan and Amended and Restated 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
190,000 of its outstanding common shares at a volume weighted
average price per share of $2.16 through the facilities of the TSX.
The maximum number of common shares sought and approved by the TSX
under the terms of the previous Bid was 774,357. 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 based exploration, mine
development and operating company with holdings that include the
Mount Polley mine (100%), the Huckleberry mine (100%), and the Red
Chris mine (30%). Imperial also holds a portfolio of 23 greenfield
exploration properties in British Columbia. These properties have
defined areas of mineralization and clear exploration potential.
Management continues to evaluate various opportunities to advance
many of these properties.
Company Contacts
Brian Kynoch | President |
604.669.8959Darb Dhillon | Chief Financial Officer
| 604.669.8959
Cautionary Note Regarding
Forward-Looking Statements
Certain information contained in this news
release are not statements of historical fact and are
“forward-looking” statements. Forward-looking statements relate to
future events or future performance and reflect Company
management’s expectations or beliefs regarding future events and
include, but are not limited to, statements regarding the Company’s
intentions with respect to the Bid; the price, volume and timing of
purchases and funding of such purchases thereunder; the use of
shares acquired under the Bid; and the allocation of shares to
satisfy the Company’s obligations under the Plans.
In certain cases, forward-looking statements can
be identified by the use of words such as "plans", "expects" or
"does not expect", "is expected", "outlook", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative of these terms or comparable terminology.
By their very nature forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements.
In making the forward-looking statements in this
news release, the Company has applied certain factors and
assumptions that are based on information currently available to
the Company as well as the Company’s current beliefs and
assumptions. These factors and assumptions and beliefs and
assumptions include, among other things, that the Company will
complete purchases of common shares pursuant to the Bid and the
other assumptions and risk factors detailed from time to time in
the Company’s interim and annual financial statements and
management’s discussion and analysis of those statements, and the
risk factors detailed in the Company’s Annual Information Form, all
of which are filed and available for review on SEDAR+ at
www.sedarplus.com. Although the Company has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended, many of which are beyond the Company’s ability to control
or predict. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements and all forward-looking statements in
this news release are qualified by these cautionary statements.
Such information is given only as of the date of this news release.
The Company does not assume any obligation to update its
forward-looking information to reflect new information, subsequent
events or otherwise, except as required by law.
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