News Releases

IMC International Mining Obtains $125,000 Loan

June 19, 2019

VANCOUVER, CANADA. IMC International Mining Corp. (“IMC” or the “Company”) is pleased to announce that it has entered into a loan agreement with Rae Ventures Inc. (the “Lender”), an insider of the Company, in connection with a loan in the aggregate amount of $125,000 (the “Loan”). No interest or other compensation is payable on the Loan and the Loan is payable on demand by the Lender. The funds received by the Company from the Loan will be used to enable further exploration on the Company’s Bullard Pass Property in Arizona, USA and for general working capital purposes.As the Lender is an insider of the Company, the Loan constituted a “related party transaction” under Multilateral Instrument 61-101 (“MI 61-101”). An exemption from the valuation requirement under MI 61-101 is available to IMC because it is not listed on certain specific stock exchanges (as per Section 5.5(b) of MI 61-101) and an exemption from the minority approval requirements is available because the fair market value of the Loan does not exceed 25% of the Company’s market capitalization, as determined by the Company’s board of directors in good faith (as per Section 5.7(a) of MI 61-101)

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