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I-Minerals Inc
Symbol IMA
Shares Issued 76,119,706
Close 2014-07-31 C$ 0.23
Market Cap C$ 17,507,532
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I-Minerals issues more bonus shares, warrants

2014-07-31 19:10 ET - News Release

Mr. Thomas Conway reports

I-MINERALS INC. ISSUES ADDITIONAL BONUS SHARES AND BONUS WARRANTS PURSUANT TO LOAN AGREEMENT, AND ANNOUNCES DEBT SETTLEMENT

I-Minerals Inc. has issued an additional 412,193 bonus shares and an additional 412,193 non-transferable bonus warrants to a company controlled by a director in respect of cash advances totalling $1.2-million (U.S.) pursuant to a loan agreement announced on Sept. 20, 2013, as amended in January, 2014. The bonus shares were issued at deemed prices ranging from 17.25 cents to 21.75 cents per share. The bonus warrants are exercisable at prices ranging from 27.6 cents to 30.5 cents and will expire on the earlier of Dec. 1, 2016, and the date the amount of the individual advance pursuant to which the bonus warrants were issued, together with all accrued interest thereon, has been repaid in full. All of the bonus shares and any additional shares which may be issued pursuant to the exercise of the bonus warrants are subject to a hold period in Canada until Dec. 1, 2014.

The company also announces that the company to which the bonus shares and bonus warrants disclosed above have been issued has elected to have accrued interest in the amount of $211,937.08 U.S. settled by the issuance of 741,233 common shares in the capital of the company at a deemed price of 28.59 U.S. cents per share, subject to regulatory acceptance, as provided for in the loan agreement pursuant to which this interest has been accrued. All of these shares will be subject to a hold period in Canada for a period of four months and one day from the date of issuance.

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