Mr. Brian Kynoch reports

IMPERIAL AGREES TO ISSUE UP TO $20 MILLION OF NON-CONVERTIBLE DEBENTURES

Imperial Metals Corp. is planning to issue unsecured non-convertible debentures, with an aggregate principal amount of up to $20-million on a non-brokered private placement basis.

The debentures have a maturity date of July 1, 2025, and bear interest at a rate of 12.0 per cent per annum, with interest paid semi-annually in cash, with the first payment due May 1, 2024.

The proceeds of the private placement are intended to be used to finance the operation and development at the company's Red Chris mine and for general working capital purposes.

N. Murray Edwards has agreed to purchase up to $12.5-million of the debentures. Such participation is considered to be a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation.

About Imperial Metals Corp.

Imperial is a Vancouver-based exploration, mine development and operating company with holdings that include the Mount Polley mine (100 per cent), the Huckleberry mine (100 per cent), the Red Chris mine (30 per cent). Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia.

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