iMetal Resources Inc. (TSX.V: IMR) (OTCQB: IMRFF) (FRANKFURT: A7VA) (“iMetal” or the “Company”). On August 29, 2025 the Company closed its non-brokeredprivate placement (the “Offering”) and issued 10,720,999 units (each, a “Unit”) at a price of $0.105 per Unit for gross proceeds of $1,125,705.
Each Unit consists of one common share in the capital of the Company (each, a “Share”) and one transferable share purchase warrant of the Company (each, a “Warrant”). Each Warrant entitles the holder thereof to purchase one additional Share of the Company at a price of $0.20 until August 29, 2027, provided that in the event the volume-weighted average closing price of the Shares on the TSX Venture Exchange exceeds $0.50 for at least ten consecutive trading days the Company will have the right to accelerate the expiry of the Warrants.
In connection with completion of the Offering, the Company paid finders’ fees of $53,606 and issued 550,436 non-transferable share purchase warrants (each, a “Finders’ Warrant”) to certain arms-length third-parties who assisted in introducing subscribers. The amount of the finders’ fees paid and the Finders’ Warrants issued was incorrectly reported in the news release issued by the Company on September 4, 2025. Each Finders’ Warrant is exercisable on the same terms as the Warrants. All securities issued in the Offering are subject to a statutory hold period until December 30, 2025, in accordance with applicable Canadian securities laws.
About iMetal Resources Inc.
iMetal is a Canadian-based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. The flagship property Gowganda West, is an exploration-stage gold project with a recent discovery hole of 48.5m at 0.85 g/t gold that borders the Juby Deposit and is located within the Shining Tree Camp area in the southern part of the Abitibi Greenstone Gold Belt about 100 km south-southeast of the Timmins Gold Camp. The 220-hectare Ghost Mountain property, 42 kilometres NE of Kirkland Lake, lies 5 kilometres W of Agnico Eagle’s Holt and Holloway Mine. Carheil is an exploration stage project with multi-metal potential and previous graphite results. The project is about 170 km north of Rouyn-Noranda in the Northern Abitibi Greenstone Belt.
ON BEHALF OF THE BOARD OF DIRECTORS,
Saf Dhillon
President & CEO
iMetal Resources Inc.
saf@imetalresources.ca
Tel. (604-484-3031)
Suite 550, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of iMetal to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
