SG:IMX Resources participates in continental nickel private placement
IMX Resources Limited announced that it has participated in a non brokered private placement by Continental Nickel Limited to maintain its 37.03% shareholding.
The private placement has raised gross proceeds of CAD 5,000,800 through the issuance of 3,572,000 new common shares at a price of CAD 1.40 per share. IMX subscribed for 1,322,869 of these new common shares at a total cost of CAD 1,852,016. Prior to the private placement IMX held 14,490,269 common shares representing 37.03% of the issued capital of Continental Nickel. Subsequent to the private placement IMX holds 15,813,138 common shares and has retained his 37.03% interest in Continental Nickel.
Mr Duncan McBain MD of IMX said that “With the exciting prospects at the Nachingwea JV project IMX is keen to maintain its interest in this project and to continue to support Continental Nickel. Our participation demonstrates the importance of this project and the holding in Continental Nickel to IMX and its shareholders.”
