MONTRAL, QUBEC – December 21, 2023 – Imperial Mining Group Ltd. (the “Company” or "Imperial") (TSX VENTURE: IPG; OTCQB: IMPNF) is pleased to announce that it closed today a non-brokered Critical Minerals Flow-Through private placement through the issuance of 10,200,000 shares on a “flow-through” basis
(“FT Shares”) at a price of $0.10 per FT Share for aggregate gross proceeds of $1,020,000 (the “Offering”).
“The Offering supports our 2024 objectives of progressing Crater Lake towards a Pre-Feasibility Study. The Company will complete fundamental work on the project that supports the PFS.” Said Pierre Neatby, President and CEO of Imperial.
The gross proceeds from the Offering will be used to incur eligible “Canadian critical minerals exploration expenses” at the Company’s Crater Lake Scandium project in Qubec that will qualify as “flow-through critical mineral mining expenditures” within the meaning of the Income Tax Act (Canada)
https://imperialmgp.com/news-releases/news/2023/imperial-mining-closes-1m-critical-minerals-flow-through-private-placement/