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Imperial Closes Oversubscribed Equity Financing to Raise $65 million

Imperial Closes Oversubscribed Equity Financing to Raise $65 million

December 30, 2016

Vancouver – December 30, 2016 | Imperial Metals Corporation (III-TSX) (the “Company”) – Imperial announces that it has closed the previously announced private placement of common shares of the Company (the “Financing”). Due to strong demand, the Company increased the Financing from $55 million to $65 million. The Company has issued 11,818,182 common shares at a price of $5.50 per share for gross proceeds of $65,000,001.

N. Murray Edwards and The Fairholme Partnership, LP, significant shareholders of the Company, purchased $30.0 million (5,454,545 common shares) and $13.1 million (2,379,093 common shares) of the Financing, respectively. In addition, a director of the Company purchased $1.5 million (272,727 common shares) of the Financing.

The Company intends to use the proceeds of the Financing to improve its working capital and for general corporate purposes.

This new release does not constitute an offer for sale or the solicitation of an offer to buy any securities in the United States. The securities referenced herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and such securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an applicable exemption from such registration requirements.


About Imperial
Imperial is an exploration, mine development and operating company based in Vancouver, British Columbia. The Company, through its subsidiaries, owns the Red Chris and Mount Polley copper|gold mines in British Columbia, and the Sterling gold mine in Nevada. Imperial also holds a 50% interest in Huckleberry Mines Ltd. and in the Ruddock Creek lead|zinc property, both in British Columbia.

Imperial Contact Information
Brian Kynoch | President | 604.669.8959
Andre Deepwell | Chief Financial Officer | 604.488.2666
Gordon Keevil | Vice President Corporate Development | 604.488.2677
Sabine Goetz | Shareholder Communications | 604.488.2657 |

Forward-Looking Information and Risks Notice

Certain information contained herein constitutes forward-looking information within the meaning of Canadian and United States Securities Laws and which is prospective in nature and reflect the current views and/or expectations of Imperial. Often, but not always, forward-looking information can be identified by the use of statements such as “plans”, “expects” or “does not expect”, “is expected”, “scheduled”, “estimates”, “forecasts”, “targets”, “projects”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Such information in this press release includes, without limitation, statements regarding the Company’s intention to use the proceeds of the Financing to improve its working capital and for general corporate purposes.

Forward-looking information is not based on historical facts, but rather on then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which Imperial operates. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. We can give no assurance that the forward-looking information will prove to be accurate.

Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause Imperial’s actual results, revenues, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements constituting forward-looking information.Important risks that could cause Imperial’s actual results, revenues, performance or achievements to differ materially from Imperial’s expectations include, among other things, hazards and risks disclosed within Imperial’s Management’s Discussion and Analysis for the year ended December 31, 2015 and other public filings which are available on Imperial’s profile on SEDAR at For the reasons set forth above, investors should not place undue reliance on forward-looking statements. Imperial does not undertake to update any forward looking information, except in accordance with applicable securities laws.

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