Brief: Imperial's Board Establishes Special Committee for Strategic Alternatives

Imperial Metals

17/09/2018 13:55

Sept 17 (Reuters) - Imperial Metals Corp  III.TO :
    * IMPERIAL COMMENCES FINANCIAL AND BUSINESS RESTRUCTURING
PROCESS
    * IMPERIAL METALS CORP - EXTENSION OF DUE DATE OF COMPANY'S
SECURED REVOLVING SENIOR CREDIT FACILITY OF $200 MILLION FROM
OCTOBER 1, 2018 TO FEBRUARY 15, 2019
    * IMPERIAL METALS CORP - SECURED REVOLVING SENIOR CREDIT
FACILITY
IS NOW SUPPORTED BY A GUARANTEE FROM EDCO CAPITAL CORPORATION
    * IMPERIAL METALS CORP - BOARD OF DIRECTORS OF COMPANY HAS
ALSO
ESTABLISHED A SPECIAL COMMITTEE
    * IMPERIAL METALS - SPECIAL COMMITTEE IS AUTHORIZED TO
IDENTIFY,
CONSIDER, NEGOTIATE, POTENTIALLY IMPLEMENT ALL STRATEGIC
ALTERNATIVES
    * IMPERIAL METALS CORP - HAS HAD PRELIMINARY DISCUSSIONS
WITH A
POTENTIAL JOINT VENTURE PARTNER
    * IMPERIAL METALS CORP - EXTENSION OF DUE DATE OF COMPANY'S
SECOND
LIEN CREDIT FACILITY OF $50 MILLION FROM DECEMBER 1, 2018 TO
FEBRUARY 15, 2019
    * IMPERIAL METALS - STRATEGIC ALTERNATIVES INCLUDE SALES OF
SOME
OF CO'S ASSETS, JOINT VENTURES, A RECAPITALIZATION, AND A SALE
OR MERGER OF CO
    * IMPERIAL METALS -  STEPS TO IMPROVE OPERATIONS AT BOTH OF
CO'S
OPERATING MINES EXPECTED TO HAVE POSITIVE OPERATIONAL IMPACT IN
Q4 OF 2018

Source text for Eikon:  ID:nGNX76SDvH 
Further company coverage:  III.TO 

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