Edition:
India

IMPERIAL ANNOUNCES DETAILS OF FINANCING PLAN


Friday, 27 Oct 2017 

Oct 27 (Reuters) - Imperial Metals Corp :IMPERIAL ANNOUNCES DETAILS OF FINANCING PLAN.‍IT HAS CONCLUDED ITS DISCUSSIONS WITH ITS SENIOR CREDIT FACILITY AND SECOND LIEN CREDIT FACILITY LENDERS​.SENIOR CREDIT & SECOND LIEN LENDERS AGREED TO PERMANENTLY WAIVE BREACH OF EBITDA COVENANT RELATED TO QUARTER ENDED JUNE 30.SENIOR CREDIT FACILITY AND SECOND LIEN CREDIT FACILITY​ WILL BE EXTENDED TO OCT 1, 2018 AND DEC 1, 2018 RESPECTIVELY.‍BOARD ALSO APPROVED ESTABLISHMENT OF NEW $10 MILLION UNSECURED DEBT FACILITY TO BE PROVIDED BY AN AFFILIATE OF EDWARDS​.‍APPROVED OFFERING FOR HOLDERS OF COMMON SHARES BY ISSUE OF RIGHTS ENTITLING THEM TO SUBSCRIBE FOR ABOUT $40 MILLION OF SHARES​. 

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