Imperial Mining Announces Annual and Special Shareholders’ Meeting and Strategic Reorganization
April 19 2023 - 8:00AM
Imperial Mining Group Ltd.
(“
Imperialˮ or the “
Corporation”)
(
TSX VENTURE: IPG) announced today that its Annual
and Special Meeting of Shareholders (the
“
Meeting”) will take place on May 19, 2023, at
9:00 a.m. Eastern Daylight Time by virtual means. The Meeting will
be conducted by way of live audio webcast. The timing and process
for assisting and voting by proxy will be described in detail in
the information circular and the notice of Meeting to be mailed to
shareholders in the upcoming days. Shareholders are reminded that
completed proxy forms must be received no later than 9:00 a.m.
EDT on May 17, 2023.
As the Corporation progresses the development of
its Crater Lake Project, the Board of Directors along with
Imperial’s founder Peter Cashin, has initiated a strategic
management reorganization to position the Corporation for the
anticipated next phase of its growth, including a stronger presence
in the US market. As part of this reorganization, Mr. Cashin,
President, CEO and Director, will be stepping down as President and
CEO. Mr. Alain Bureau, Director of the Corporation, will act as
interim CEO, effective immediately, until such time as the Board
selects a permanent CEO to lead the organization through its next
stage of growth. Mr. Cashin has agreed to assist the Corporation as
a strategic advisor through the transition period. The Board has
initiated the selection process of the new CEO and the strategic
reorganization.
Mr. Cashin commented, “I am an explorer and have
built a tremendously valuable scandium and rare earth resource with
a PEA showing an NPV of around $1.7 billion, based on only a
fraction of our property being fully explored. I believe that the
time has come for new leadership to advance Imperial to the next
level as a potential producer of minerals critical for the EV and
alternative energy revolution, as well as the aerospace and defense
industries. This transition will require a mine development
skillset and consequently, I am prepared to step aside for this to
happen.”
Jeff Swinoga, Chairman of the Board, added,
“Special thanks to Peter and the team for developing our Quebec
project and generating substantial value. I am pleased that Peter
will remain involved with the Company as a strategic advisor during
this important transition period We now have a large resource
in a welcoming jurisdiction with a robust PEA that could make a
significant contribution in the supply of the world’s rare earth
and critical minerals, such as scandium. I also wish to thank Alain
and Peter for assisting during this strategic reorganization.”
ABOUT IMPERIAL MINING GROUP
LTD.Imperial is a Canadian mineral exploration and
development company focused on the advancement of its technology
metals projects in Québec. Imperial is publicly listed on the TSX
Venture Exchange as “IPG” and on the OTCQB Exchange as “IMPNF” and
is led by an experienced team of mineral exploration and
development professionals with a strong track record of mineral
deposit discovery in numerous metal commodities.
Website:
www.imperialmgp.comTwitter:
@imperial_miningFacebook: Imperial Mining
GroupInstagram:
imperialminingroupLinkedIn:
#imperial-mining-group
Neither 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 release.
For further information please contact:
Marc Lakmaaker
AdvanceCap Inc
+1 (647) 289-6640
marc@advancecapinc.com
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