Imaging Canada Liquidating Corp IMRSQ

Sprott's (Embry) now in on IGM & GCC !

[Canada300]

Island Mountain Gold Mines Ltd. Quick Quote: IGM 0.13 (-0.02) Private Placements To Raise Approximately $1,700,000 With 11/21/03 Sprott Asset Management Inc., Canaccord Capital Corp. and - First Associates Investments Inc. The Board of Directors of Island Mountain Gold Mines Ltd. (the 'Company) is pleased to announce that the Company has arranged the following private placements of both flow-through and non-flow-through units of the Company at the price of $0.10 per unit, each non-flow through unit consisting of one common share of the Company and 1/2 of one non-transferable share purchase warrant, each whole warrant entitling the holder to acquire a non-flow-through at the price of $0.15 per share for a period of one year from closing. Each flow-through unit consists of one flow-through share and 1/2 of one non-transferable share purchase warrant, each whole warrant entitling the holder to acquire a non-flow-through share at the price of $0.15 per share for a period of one year from closing. The Company has engaged an agency group, led by Canaccord Capital Corporation ('Canaccord') and including First Associates Investments Inc. ('First Associates') to act as agents (the 'Agents') to place up to 11,000,000 units of the Company, of either flow-through or non-flow-through units. Of the brokered portion, Sprott Asset Management Inc. has agreed to purchase 5,000,000 non-flow-through units. The Agents will receive a commission equal to 7% of the gross proceeds and will be granted non-transferable warrants ('Agent's Warrants') to purchaser that number of units equal to 10% of the number of units sold for a period of one year from the closing of the private placement. The units subject to the Agent's Warrants will have the same terms as the non-flow-through Units offered. Canaccord will also be paid a cash administration fee and a corporate finance fee in non-flow-through units. The Company is also conducting a non-brokered private placement of up to 6,000,000 flow-through units. The proceeds in the amount from these private placements will be used by the Company for continuing exploration and development of its Cariboo Gold Project properties at Wells, B.C. and for working capital purposes. Closing of the financings is subject to normal regulatory approvals and completion of due diligence by the Agents. On Behalf of the Board 'Frank Callaghan'J. Frank Callaghan, President & Director The TSX Venture Exchange has not reviewed and does not accept the responsibility for the accuracy or adequacy of the information contained in this release. CONTACT: TEL: [phone] J. Frank Callagha, President & Director FAX: [phone] Toll Free: 1-800-663-9688