Tickers: XTSX:IMR, PINX:ADTFF
Tags: Mining
Vancouver, BC / TheNewswire / November 20, 2018 - iMetal Resources Inc. (TSXV: IMR) ("iMetal" or the "Company") is pleased to provide the following corporate update:
Gowganda West Exploration Program
iMetal crews continue to carry out surface sampling over broad areas at the Company's 100 sq. km Gowganda West Property, contiguous to Tahoe Resources' Juby gold deposit and 15 km west of Canada Cobalt's Castle mine. Targets for near-term initial potential drilling are being prioritized at Zone 3A, the start of a minimum 2.4-km-long apparent structural corridor where prospecting has returned multiple high-grade gold showings. The Company anticipates providing a detailed exploration update for Gowganda West in the coming days.
Stock Options Grant
On November 16, 2018, iMetal issued 1,600,000 incentive stock options to consultants of the Company. Each incentive stock option permits the grantee to acquire one common share of the Company at a price of $0.11 per share. Options expire five years from the date of the grant and are subject to TSX Venture Exchange approval.
Private Placement Finder's Fee Update
Further to the Company's news release of October 31, 2018, announcing the closing of its hard-dollar private placement for gross proceeds of $676,000, and for which the Company has received TSX Venture approval, the Company wishes to update the finder's fees information. Mackie Research Capital Corp. received finder's fees of $9,000 cash and 112,500 two-year warrants at $0.10 per share.
Director Changes
The Company also wishes to announce that as of October 31, 2018, Director Michael Blanchard resigned from the Board of Directors. The Company would like to thank Mr. Blanchard for his time, services and valuable contributions he made during his time as a director. He will continue to act as an advisor to the Company.
Replacing Mr. Blanchard as director of iMetal is Mr. Scott Davis who also holds the position of Chief Financial Officer for the Company. iMetal is very pleased to have Mr. Davis on board now as a director and would like to thank him for his continued and loyal contributions to the Company.
We seek Safe Harbor.
ON BEHALF OF THE BOARD OF DIRECTORS,
Johan Grandin
President & CEO, iMetal Resources Inc.
Tel. 604-739-9713
588-580 Hornby St., Vancouver, BC, V6C 3B6 / https://imetalresources.ca
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