iMetal Resources closes private placement raising $1.1 million

iMetal Resources Inc. (TSXV: IMR) (OTCQB: IMRFF) (FSE: A7VA) announced the closing of its non-brokered private placement on September 4, 2025. The company issued 10,720,999 units at $0.105 per unit, generating gross proceeds of $1,125,705.

Each unit consists of one common share and one transferable warrant. The warrants allow holders to purchase additional shares at $0.20 until August 29, 2027. The company retains the right to accelerate warrant expiry if the volume-weighted average closing price exceeds $0.50 for ten consecutive trading days.

iMetal plans to use net proceeds for property exploration, potential acquisitions, and general working capital. The company paid finders' fees of $46,606 and issued 483,770 non-transferable warrants to third parties who assisted with the placement. All securities are subject to a statutory hold period until December 30, 2025.

The company also granted 1,000,000 stock options to directors, officers and consultants. The options vest immediately and are exercisable at $0.22 until September 4, 2030.

iMetal is a Canadian exploration company with properties in Ontario and Quebec. Its flagship Gowganda West property is located in the Abitibi Greenstone Gold Belt, approximately 100 kilometers south-southeast of the Timmins Gold Camp. The company also holds the Ghost Mountain property near Kirkland Lake and the Carheil project north of Rouyn-Noranda.

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