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Imperial Metals completes US$115 million non-brokered private placement of convertible debentures

Fasken
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Imperial Metals Corporation

On September 3, 2014, Imperial Metals completed a non-brokered private placement of $115 million Face Value of 6% 6-year senior unsecured convertible debentures. Subject to adjustment, each $12.00 of Face Value is convertible into one common share of Imperial Metals upon at least 61 days advance notice. The Convertible Debentures are not callable unless the closing price of Imperial Metals' common shares exceeds 125% of the conversion price for at least 30 consecutive days. Interest will be payable semi-annually, with the first payment due on June 30, 2015. At the option of Imperial Metals, subject to the separate approval of the TSX and compliance with all applicable securities laws, such interest may be paid through the issuance of additional Convertible Debentures or Imperial Metals' common shares. Imperial Metals is an exploration, mine development and operating company based in Vancouver, British Columbia. It operates the Mount Polley copper/gold mine in British Columbia and the Sterling gold mine in Nevada. Imperial Metals has 50% interest in the Huckleberry copper/molybdenum mine and has 50% interest in the Ruddock Creek lead/zinc property, both in British Columbia. Imperial Metals is in development of its wholly owned Red Chris copper/gold property in British Columbia. Fasken Martineau was counsel to Imperial Metals with a team led by Charlotte Bell, which included Lata Casciano (securities), Don Weaver (banking), Marcel Peerson (banking), Michael Coburn (tax), Mark Hawkins (securities) and Barinder Sidhu (securities).  

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