IMetal Resources Completes First Tranche of Private Placement

iMetal Resources Inc. has announced the closure of the first tranche of its non-brokered private placement, initially declared on November 4, 2024. In this tranche, the company issued 4,466,686 units at $0.15 per unit, gathering total proceeds of $670,002.90.

Each unit comprises one common share and one transferable share purchase warrant, allowing the purchase of an additional share at $0.20 for two years. The funds will be allocated for further exploration and general working capital. Securities are under a statutory hold until April 21, 2025, in line with Canadian laws.

Finders' fees were distributed to several companies, with insiders contributing 666,667 units. This participation is a related party transaction under MI 61-101, but exempt from certain requirements.