Imperial Closes $30 Million Convertible Debenture Private Placement Financing

August 24, 2015 | Imperial Metals Corporation (the “Company”) (III-TSX) is pleased to announce the closing of its previously announced non-brokered convertible debenture private placement financing for gross proceeds of $30 million.

Each $12 of principal amount is convertible into one common share of the Company upon at least 61 days advance notice. The convertible debentures are not callable unless the closing price of the Company’s common shares exceeds 125% of the conversion price for at least 30 consecutive days. Interest at 6% per annum will be payable semi-annually, with the first payment due on June 30, 2016. The convertible debentures mature on August 25, 2021.

N. Murray Edwards and The Fairholme Partnership, LP purchased $16.2 million and $8.1 million of the convertible debentures, respectively. The Company is also pleased to confirm the participation of the Tahltan Nation in the convertible debenture financing through the Tahltan Nation Development Corporation. In addition, directors of the Company and an associate of a director purchased $1.6 million of the convertible debentures.

The proceeds of the convertible debenture financing will be used as set out in the Company’s rights offering circular dated July 20, 2015.

This news 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 Unites States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent such registration or 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 Mount Polley copper/gold mine in British Columbia, the Sterling gold mine in Nevada and the Red Chris copper/gold mine in northern British Columbia. Imperial also has a 50% interest in the Huckleberry copper mine and a 50% interest 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 | investor@imperialmetals.com

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