I-Minerals’ Disposition on i-minerals USA-BV Lending Conditionally Accepted By the TSX Venture Exchange
Vancouver, British Columbia–(Newsfile Corp. – January 19, 2023) – I-Minerals Inc. (TSXV: IMA) (OTC Pink: IMAHF) (“the Company”) is happy to announce that the TSX Venture Exchange has conditionally accepted its proposal to dispose of all the common shares of its wholly-owned subsidiary, iminerals USA to BV Lending (the “Transaction”), pursuant to a Stock Purchase Agreement, which was previously announced in a news release dated September 15, 2022.
Closing the Transaction is subjected to a few key conditions, including shareholder approval, final approval by TSX Venture Exchange, no more than 5% shareholders exercising their dissenting right, and other customary conditions for this type transaction.
After filing its definitive proxy statement (information circul) with the Securities Exchange Commission via EDGAR or the relevant Canadian securities commissions, the Company will issue a second news release. www.sedar.com.
About the Company
The 1984 incorporation of the Company under British Columbia’s laws was legal. In 2004, the Company switched its corporate jurisdiction to that of a Canadian corporation from a British Columbian company. The Company amended its articles in December 2011 to change its name to “I-Minerals Inc.”
The Company is involved in the evaluation, exploration and development mineral assets, including the Helmer-Bovill Property. The Company will no longer have any mineral properties after the Transaction. This is due to the sale by i-minerals USA which owns the Helmer-Bovill Property. The Company will have to find and, if possible, acquire a new company. It will then be able to operate a balanced sheet that is free from the indebtedness it cannot service currently. The Company’s main executive office is located at 1199 West Hastings Street Suite 1100, Vancouver, British Columbia. Canada. (208) 953-7322. The Company’s operations department is located at 13403 N. Government Way #102 Hayden, Idaho.
I-Minerals Inc.
per: “John Theobald“
John Theobald
President & CEO
Contact: I-Minerals Inc.
Barry Girling
(208) 953-7372
Email: [email protected]
Visit our website at www.imineralsinc.com
NEITHER TSX VENTURE CHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM TERM IS DEFINED in THE POLICIES TSX VENTURE CHANGE) ACCEPTS RESPONSIBILITY IN THIS NEWS RELEASE’S ACCURACY.
This News Release contains forward looking statements that are based only on assumptions as of this date. These statements are based on management’s current beliefs, plans, intentions, and expectations. These statements are not guarantees of future results. Forward-looking statements are not guaranteed to be accurate. Actual performance can be affected by many factors. These include, but are not limited to, the Company’s ability to complete the Transaction (including obtaining all required shareholder and regulatory approvals), the need for compliance with environmental regulations and governmental regulations, changes on the world market price of minerals, risks inherent to mineral exploration, risk associated development, construction, mining operations, uncertainty of future profitability, and uncertainty about accessing additional capital. Therefore, actual and future events, conditions and outcomes may differ materially to the expectations, beliefs, intentions, and estimates expressed or implied in forward-looking statements. The Company is not required to update or revise forward looking information except as required by applicable securities legislation.
Please visit this link to view the original press release. https://www.newsfilecorp.com/release/151929