VANCOUVER, British Columbia, June 24, 2024 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the "Company" or "Imperial") (TSX:III) announces that it has amended certain terms of the unsecured non-convertible debentures issued by the Company on June 30, 2023 (the "Debentures") in the aggregate principal amount of $34,470,000. The Debentures originally had a maturity date of July 1, 2024 and interest at a rate of 12.0% per annum, with interest paid semi-annually in cash. The Debentures have been amended to extend the maturity date to November 1, 2025 and to include a 2% prepayment penalty on the outstanding principal amount in the event that the Debentures are prepaid by the Company prior to November 1, 2025. As previously disclosed, N. Murray Edwards purchased Debentures in the amount of $21,000,000. In addition, directors and officers of the Company purchased $1,185,000 of the Debentures. Such participation is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation. About Imperial Imperial is a Vancouver based exploration, ...