Apr 29, 2011
i-minerals inc. announces closing of Brokered and Non Brokered Private Placements
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, B.C. (April 29, 2011) i-minerals inc. (TSX.V: IMA) ("i-minerals" or the "Company") is pleased to announce the closing of a brokered private placement through Canaccord Genuity Corp. ("Canaccord" or the "Agent"), and a non-brokered private placement (collectively, "the Offering"), as originally announced on January 19, 2011 and as amended on March 22, 2011.
The brokered portion of the Offering consisted of the sale of 12,000,000 Units at a price of $0.25 each, for aggregate subscription proceeds of $3,000,000, each Unit consisting of one common share and one Warrant, with each Warrant entitling the holder to purchase one additional common share at a price of $0.40 until April 29, 2013.
In connection with the closing of this brokered private placement, the Company paid Canaccord a commission of $240,000 and has issued to Canaccord the following securities to Canaccord:
(a) 1,200,000 Agent's Warrants, each entitling Canaccord to purchase one common share at a price of $0.25 until April 29, 2013; and
(b) 450,000 Corporate Finance Units, each consisting of the same securities comprising the Units disclosed above.
All of the securities issued in connection with the closing of the Offering, including the securities issued to Canaccord, are subject to a hold period in Canada until August 30, 2011.
The funds raised pursuant to the Offering will be used to advance the Helmer-Bovill Project and for general working capital purposes.
Per: "Thomas M. Conway"
Thomas M. Conway,
President & CEO
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
877-303-6573 or 604-303-6573
Or visit our website at www.imineralsinc.com
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