Imperial Metals Corporation

Imperial Metals Corporation

November 16, 2006 18:03 ET

Imperial Reports on Acquisitions in Connection with bcMetals

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 16, 2006) - Imperial Metals Corporation (TSX:III) reports that, in connection with the formal take over bid (the "Offer") by its wholly owned subsidiary, CAT-Gold Corporation ("CAT-Gold") for all of the common shares (the "Shares") of bcMetals Corporation ("bcMetals") at a cash price of $0.95 per Share and all of the outstanding Out-Of-The-Money Warrants of bcMetals (the "Warrants") at a cash price of $0.02 per Warrant, CAT-Gold has taken up and paid for and owns 3,625,694 Shares representing approximately 9.5% of the issued and outstanding Shares of bcMetals, and has paid for 1,636,666 Warrants representing approximately 35% of the outstanding Warrants. CAT-Gold has requested that the 1,636,666 Warrants deposited under the Offer, which are not transferable, be cancelled.

CAT-Gold now owns 6,639,694 Shares, representing approximately 17.3% of the issued and outstanding bcMetals Shares.

The purpose of the Offer was to acquire all of the issued and outstanding Shares and Warrants. CAT-Gold is presently reviewing its options and may in the future acquire additional Shares of bcMetals.

To obtain a copy of the report relating to this disclosure or for any other information please see contact information below.

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
    Imperial Metals Corporation
    Sabine Goetz
    Investor Relations
    (604) 488-2657