I-Minerals Inc. Negotiates Additional Funding Pursuant to Loan Agreement
Vancouver, British Columbia--(Newsfile Corp. - July 2, 2020) - I-Minerals Inc. (TSXV: IMA) (OTC Pink: IMAHF) announces that it has negotiated an extension to its existing loan agreement with a company controlled by its Chairman Allen Ball, pursuant to which an additional $1,200,000 US will be advanced in tranches through December 2020, with the monthly advances from September through December 2020 being conditional upon the Company having completed its Operations and Reclamation Plan for its Bovill Kaolin Project, with such Plan also having been approved by the Idaho Department of Lands.
About I-Minerals Inc.
I-Minerals is a Canadian based exploration and development company that is advancing the Helmer-Bovill kaolin-halloysite property in north central Idaho.
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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