Mr. John Theobald reports
I-MINERALS INC. NEGOTIATES REPAYMENT OF OUTSTANDING INDEBTEDNESS
The repayment date for loans from a company controlled by I-Minerals Inc. chairman Allen Ball amounting to approximately $33,488,312, together with all accrued and unpaid interest thereon, has been extended until May 15, 2021.
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 $48-million (U.S.), with a 20-per-cent pretax or 18-per-cent after-tax internal rate of return (IRR) and a $48-million (U.S.) pretax or $34-million (U.S.) after-tax net present value (NPV) at 10 per cent.
We seek Safe Harbor.
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