Imperial Metals Corporation

Imperial Metals Corporation

January 17, 2007 18:00 ET

Imperial Purchases Common Shares of bcMetals Corporation

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 17, 2007) - Imperial Metals Corporation (TSX:III) reports its wholly owned subsidiary CAT-Gold Corporation ("CAT-Gold") has purchased 745,400 common shares of bcMetals Corporation ("bcMetals") today through the TSX Venture Exchange representing approximately 1.94% of the issued and outstanding common shares of bcMetals. The highest price paid for bcMetals shares purchased today was $1.17 per share.

The documents for Imperial's formal offer and takeover bid ("Offer") to acquire all of the outstanding common shares of bcMetals and all of the out-of-the-money options and warrants of bcMetals were mailed and filed with securities regulators on January 4, 2007. The Offer is open for acceptance until Friday, February 9, 2007.

Since the date of the Offer, Imperial has purchased 1,910,200 shares of bcMetals at an average price of approximately $1.16 per share. Imperial currently holds 9,299,894 (24.23%) of the issued and outstanding common shares of bcMetals.

Contact Information

  • Imperial Metals Corporation
    Brian Kynoch
    (604) 669-8959
    (604) 687-4030 (FAX)
    Imperial Metals Corporation
    Andre Deepwell
    Chief Financial Officer
    (604) 488-2666