International Millennium Mining Corp.

International Millennium Mining Corp.

December 24, 2009 09:00 ET

International Millennium Amends Private Placement to Raise $811K and Grants Incentive Stock Options

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 24, 2009) -  International Millennium Mining Corp. (TSX VENTURE:IMI)(FRANKFURT:L9J) (the "Company") announces that, encouraging response to the Company's private placement, initially announced December 9, 2009, has resulted in the placement being over subscribed by 2,217,237 units. Consequently the Company has amended the partially brokered placement now to 937,500 flow-through units at $0.08 and 12,279,737 non-flow-through units at $0.06 for a total of 13,217,237 units and total cash proceeds of $811,784. Each flow-through unit is comprised of one (1) flow-through common share and one half (½) non-flow-through, non-transferable share purchase warrant and each non-flow-through unit, is comprised of one (1) common share and one half (½) non-transferable share purchase warrant. Each full warrant entitles the holder to purchase an additional share at $0.10 per share for a period of two (2) years from the date of issuance. The brokered portion of the placement is subject to a finder's fee of 8.5% plus an 8.5% broker unit warrant exercisable at $0.06 per broker unit warrant allowing the holder to purchase broker units comprised of one share and a two year share purchase warrant exercisable at $0.10. The placement is subject to regulatory acceptance.

The Company will use the proceeds of the private placement for exploration work on the Company's mineral properties, primarily the Simon Mine, Nevada property and for working capital.

Incentive Stock Options

The Company also wishes to announce the grant of three year incentive stock options to its employees, officers, directors and consultants under terms of its Stock Option Plan, for the right to purchase up to 3.2 million shares at $0.10 per share. The Company has no other stock options in effect.

About International Millennium Mining Corp

International Millennium Mining Corp. is a mineral exploration and development company engaged in acquiring known small mine deposits world-wide and in the exploration of polymetallic mineral properties in Canada and the Americas. To date, the Company has acquired and is exploring mineral properties in British Columbia and Ontario, Canada; Nevada, USA; and Sonora State, Mexico. Emerging mineral targets include gold, silver, cobalt, molybdenum, zinc, lead, nickel, copper and platinum group metals. The Company's common shares trade on the TSX Venture Exchange under the symbol: IMI and on the Frankfurt Exchange under the symbol: L9J.


'John A. Versfelt"

John A. Versfelt President and CEO

Further information about the Company can be found on SEDAR (

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes and other business transactions timing. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • International Millennium Mining Corp.
    Mr. Wayne Meredith
    (604) 569-2509
    International Millennium Mining Corp.
    Mr. John Versfelt
    President & CEO
    (604) 984-9907
    (604) 983-8056 (FAX)