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Industrial Minerals Inc.
Industrial Minerals Inc. announces engagement of agent for up to US $10 million funding
June 1st, 2008
Industrial Minerals Inc. (IMI) - OTCBB: IDSM - (or "the Company") announced it has engaged a placement agent (the "Agent") to conduct a brokered private placement of special warrants ("Special Warrants") to raise, on a best efforts agency basis, up to US $10.0 million including a Bridge Funding of US $500,000. This funding will be used to carry out the next major phase of the Company's strategic plan for developing the Bissett Creek natural graphite operations near North Bay, Ontario. This plan includes: a 2008 exploratory drill program; pilot plant construction; and EPCM (Engineering, Procurement, and Construction Management) work to develop the full commercial plant....
Source: Pharma Investments, Ventures & Law Weekly (2008-06-01)
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