{"id":477630,"date":"2021-04-16T17:23:45","date_gmt":"2021-04-16T21:23:45","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/imperial-and-soquem-close-the-transaction-to-exchange-quebec-base-metal-and-gold-property-interests\/"},"modified":"2021-04-16T17:23:45","modified_gmt":"2021-04-16T21:23:45","slug":"imperial-and-soquem-close-the-transaction-to-exchange-quebec-base-metal-and-gold-property-interests","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/imperial-and-soquem-close-the-transaction-to-exchange-quebec-base-metal-and-gold-property-interests\/","title":{"rendered":"Imperial and SOQUEM Close the Transaction to Exchange Quebec Base Metal and Gold Property Interests"},"content":{"rendered":"
\n

MONTREAL, April 16, 2021 (GLOBE NEWSWIRE) — Imperial Mining Group Ltd. (“Imperial”) <\/strong>(TSX VENTURE: IPG; OTCQB: IMPNF<\/strong>) is pleased to report that it has closed the transaction announced on March 21, 2021 with SOQUEM Inc., a Quebec Crown Corporation (\u201cSOQUEM\u201d) (the \u201cTransaction\u201d).<\/p>\n

As part of the Transaction, Imperial Mining has sold its 100% undivided interest in the Carheil-Brouillan copper-zinc-silver property in Quebec to SOQUEM in exchange for a cash payment of $450,000. Imperial will retain a two per cent (2%) Net Smelter Royalty (\u201cNSR\u201d) on the property, which can be acquired by SOQUEM for an additional cash payment of $2.0 million. In addition, SOQUEM has transferred its 50% Joint Venture interest in the La Ronci\u00e8re gold property, giving Imperial a 100% interest, in exchange for a one and one quarter per cent (1.25%) NSR, which can be acquired by Imperial for $1.25 million in cash at any future date.<\/p>\n

\n Carheil-Brouillan Property<\/strong>\n <\/p>\n

As reported on March 21, 2021, Imperial is selling its 100% interest in the Carheil-Brouillan Project, located 120 km north of the town of La Sarre, Quebec and 5 km southwest of the former Selbaie Mine and consisting of 114 contiguous mining claims covering 5,425.2 ha. The Project can be accessed via Highway 393 going from La Sarre to Villebois and then north to the former Selbaie Mine.<\/p>\n

\n La Ronci\u00e8re Gold Property<\/strong>\n <\/p>\n

As part of the Transaction, SOQUEM has transferred its 50% JV interest to Imperial in the La Ronci\u00e8re gold property to give Imperial a 100% undivided interest in the property. The project is located 35 km east of Desmaraisville, Quebec and consists of 45 contiguous claims covering 2,509.95 ha and is accessible via Highway 113 going from Val d\u2019Or to Chibougamau, Quebec.<\/p>\n

\n ABOUT IMPERIAL MINING GROUP LTD.<\/strong>\n <\/p>\n

\n Imperial is a Canadian mineral exploration and development company focused on the advancement of its technology metals projects in Qu\u00e9bec. Imperial is publicly listed on the TSX Venture Exchange as \u201cIPG\u201d and on the OTCQB Exchange as \u201cIMPNF\u201d and is led by an experienced team of mineral exploration and development professionals with a strong track record of mineral deposit discovery in numerous metal commodities.<\/em>\n <\/p>\n

\n ABOUT SOQUEM<\/strong>\n <\/p>\n

SOQUEM, a subsidiary of Investissement Qu\u00e9bec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. A proud partner and ambassador for the development of Quebec\u2019s mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future.<\/p>\n

\n
\n For further information please contact:<\/u>
\n <\/strong>\n <\/p>\n\n\n
Peter J. Cashin
President and Chief Executive Officer
Phone:<\/strong> +1 (514) 360-0571
Email:<\/strong>info@imperialmgp.com<\/a><\/td>\n		CHF Capital Markets
Iryna Zheliasko, Manager-Corporate Communications
Phone:<\/strong> +1 (416) 868-1079 x229
Email:<\/strong>iryna@chfir.com<\/a><\/td>\n<\/tr>\n<\/table>\n

\n Website:<\/strong>
\n www.imperialmgp.com<\/a> \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Twitter:<\/strong>\u00a0@imperial_mining<\/a>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0Facebook:<\/strong>Imperial Mining Group<\/a><\/p>\n

\n This press release may contain forward-looking statements relating to the Company\u2019s operations or to its business environment. Such statements are based on the Company\u2019s operations, estimates, forecasts, and projections, but are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control. Several factors could cause actual outcomes and results to differ materially from those expressed. These factors include those set forth in the corporate filings. Although any such forward-looking statements are based upon what management believes to be reasonable assumptions, the Company cannot guarantee that actual results will be consistent with these forward-looking statements. In addition, the Company disclaims any intention or obligation to update or revise any forward-looking statements, for any reason. We also do not commit in any way to guarantee that we will continue reporting on items or issues that arise.\u00a0Investors are cautioned that this press release contains quoted historical exploration results. These are derived from filed assessment reports and compiled from governmental databases. The Company and a QP have not independently verified and make no representations as to the accuracy of historical exploration results: these results should not be relied upon. Selected highlight results may not be indicative of average grades. 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.<\/em>\n <\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

MONTREAL, April 16, 2021 (GLOBE NEWSWIRE) — Imperial Mining Group Ltd. (“Imperial”) (TSX VENTURE: IPG; OTCQB: IMPNF) is pleased to report that it has closed the transaction announced on March 21, 2021 with SOQUEM Inc., a Quebec Crown Corporation (\u201cSOQUEM\u201d) (the \u201cTransaction\u201d). As part of the Transaction, Imperial Mining has sold its 100% undivided interest in the Carheil-Brouillan copper-zinc-silver property in Quebec to SOQUEM in exchange for a cash payment of $450,000. Imperial will retain a two per cent (2%) Net Smelter Royalty (\u201cNSR\u201d) on the property, which can be acquired by SOQUEM for an additional cash payment of $2.0 million. In addition, SOQUEM has transferred its 50% Joint Venture interest in the La Ronci\u00e8re gold property, giving Imperial a … <\/p>\n

Continue reading “Imperial and SOQUEM Close the Transaction to Exchange Quebec Base Metal and Gold Property Interests”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-477630","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nImperial and SOQUEM Close the Transaction to Exchange Quebec Base Metal and Gold Property Interests - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/imperial-and-soquem-close-the-transaction-to-exchange-quebec-base-metal-and-gold-property-interests\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Imperial and SOQUEM Close the Transaction to Exchange Quebec Base Metal and Gold Property Interests - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MONTREAL, April 16, 2021 (GLOBE NEWSWIRE) — Imperial Mining Group Ltd. 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