I-Minerals Inc. Negotiates Repayment of Outstanding Indebtedness
Vancouver, British Columbia--(Newsfile Corp. - October 18, 2021) - I-Minerals Inc. (TSXV: IMA) (OTC Pink: IMAHF) announces that the repayment date for loans from a company controlled by its Chairman Allen Ball amounting to $34,150,175 together with all accrued and unpaid interest thereon, has been extended until November 15, 2021. Interest payable is at the rate 0f 0.13% per annum.
About I-Minerals Inc.
I-Minerals is an exploration and development company that is advancing the Bovill kaolin-halloysite property in north central Idaho. A March 2020 Prefeasibility Study on the Bovill Property envisaging annual production of 20,000 tons of kaolin and 10,000 tons of halloysite estimated initial CAPEX at US$48 million with a 20% pre-tax, 18% after tax IRR and a US$ 48 million pre-tax, US$34 million after tax NPV10%.
per: "John Theobald"
President & CEO
Contact: I-Minerals Inc.
Paul J. Searle, Investor Relations
877-303-6573 or 604-303-6573
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 NEWS RELEASE.
This News Release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: changes in the world wide price of mineral market conditions, risks inherent in mineral exploration, risk associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital. .
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