Imperial Extends Credit Facilities

2019-03-07 / @nasdaq

VANCOUVER, British Columbia, March 07, 2019 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the “Company”) (TSX:III) announces that it has obtained extensions regarding the maturity date of a number of its credit facilities as follows:

The Senior Credit Facility maturity date has been extended from March 7, 2019 to March 15, 2019.
The Second Lien Credit Facility maturity date has been extended from March 11, 2019 to March 15, 2019.
The Bridge Loan maturity date has been extended from March 13, 2019 to March 15, 2019.

These maturity date extensions will provide additional time to enable the Special Committee to further advance its progress under the business restructuring process announced on September 17, 2018.

About Imperial

Imperial is a Vancouver exploration, mine development and operating company. The Company, through its subsidiaries, owns the Red Chris, Mount Polley and Huckleberry copper mines in British Columbia. Imperial also holds a 50% interest in the Ruddock Creek lead/zinc property.

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Forward-Looking Information and Risks Notice

Forward-looking statements relate to future events or future performance and reflect Company management's expectations or beliefs regarding future events and include, but are not limited to, statements regarding extensions of the maturity dates obtained for the Senior Credit Facility, the Second Lien Credit Facility, the Bridge Loan and the Junior Credit Facility, and the effect of such extensions on the Special Committee’s advancement of the ongoing business restructuring process. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risk factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.