Imperial Amends Senior Credit Facility Covenants

Imperial Amends Senior Credit Facility Covenants

Vancouver | February 10, 2017 | Imperial Metals Corporation (the “Company”) (TSX:III) reports that it has amended certain financial covenants under the senior secured revolving credit facility for the March 31, June 30, and September 30, 2017 reporting periods.

The financial covenants for these periods have been revised as follows:

• A minimum EBITDA test to replace the fixed charge coverage ratio
• An increase to the maximum total debt to EBITDA ratio
• An increase to the maximum secured debt to EBITDA ratio
• A reduction to the minimum liquidity test for the period April 1, 2017 to December 1, 2017

The interest rate charged under the senior secured revolving credit facility varies with the Company’s financial leverage. A new interest rate bracket has been added to reflect the revised maximum leverage.

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