IRI IEMR Resources Inc

IEMR Resources Inc. (TSX VENTURE:IRI) ("IEMR" or the "Company") wishes to
announce that it will, subject to the approval of the TSX Venture Exchange,
borrow the principal sum of US$800,000 (the "Principal") from, and issue an
unsecured convertible note (the "Convertible Note") in respect of such
indebtedness to, International Energy and Mineral Resources Investment Company
Limited (Hong Kong) (the "Lender") having a term of 2 years (the "Maturity
Date") from the closing date (the "Closing Date"). At the option of the Lender,
the Convertible Note is convertible into common shares of the Company ("Common
Shares") at a price of US$0.07 per Common Share, in whole or in part, at any
time during the term of the Convertible Note. The Convertible Note is to bear
interest on the outstanding Principal from the Closing Date to the Maturity Date
at a rate of 6% per annum, payable on the earlier of the Maturity Date or the
date of conversion of the Principal amount outstanding.  


The Company requires this financing to pay US$800,000 owing to Mosquito
Consolidated Gold Mines Limited ("Mosquito") on account of exploration work that
Mosquito performed on the Pine Tree Property on behalf of the Company, which
amount is due on or before December 31, 2011. The Company intends to conduct a
private placement in 2012 to repay the Principal. 


The Lender is a "Related Party" of the Company pursuant to the TSX Venture
Exchange policies, as Mr. Hongxue Fu, President, Chief Executive Officer and a
director of the Company, holds a controlling interest in the Lender. As such,
the Financing constitutes a "Related Party Transaction" under the policies of
the TSX Venture Exchange. 


The Financing and the terms of the Convertible Note were unanimously approved by
the Board of Directors of the Company, other than Hongxue Fu, who declared his
interest in the Financing and abstained from voting with respect to the
Financing and the documents and transactions related thereto. The directors
eligible to vote with respect to the Financing believe that the terms of the
Financing are in accordance with available market rates and in the best
interests of the Company. If the Principal is converted in full, Hongxue Fu and
the Lender will increase their collective shareholdings in the Company from
10,371,357 common shares (currently 42.15% of the issued and outstanding common
shares) to 21,799,928 common shares (which would represent 60.50% of the issued
and outstanding common shares). 


The Company is relying on exemptions from the formal valuation and minority
approval requirements which are available to the Company.


About IEMR Resources Inc. 

IEMR is a junior mining company listed on TSX Venture Exchange under the symbol
"IRI". The Company is directly tied to and has been formed from capital sources
in China and Canada. IEMR is devoted to taking full advantage of its capital by
participating in mineral and energy projects ranging from exploration,
development, production, processing, smeltering and mineral trade with a
long-term view. The Company's emphasis is on the Chinese and Canadian markets
utilizing the capital stemming from China and the resources and market of Canada
to create a maximum return for shareholders. The Company's investment priorities
ranked in order will be copper, chromium, nickel, manganese, uranium, platinum
silver, diamonds and molybdenum. Investment and or acquisitions in exploration
projects, will be focused in chromium, manganese, uranium and potash. The
Company has already formed alliances of cooperation with large smeltering steel,
copper, lead, zinc and aluminum companies. 


For further information on IEMR, please refer to the Company's profile at
www.sedar.com or the Company's website at www.iemr.ca. 


On behalf of the Board of Directors of IEMR RESOURCES INC.

Long Wang, Chief Financial Officer 

Cautionary Statement Regarding Forward-Looking Statements

Certain statements made and information contained herein may constitute
"forward-looking statements" or "forward-looking information" within the meaning
of applicable securities legislation. These statements relate to future events,
including a proposed private placement, or the Company's future performance.
Often, but not always, forward-looking statements or information can be
identified by the use of words such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", "does not anticipate" or "believes" or variations of such words
and phrases or words and phrases that state or indicate that certain actions,
events or results "may", "may have", "could", "would", "might" or "will" be
taken, occur or be achieved. Although management believes that the assumptions
made and the expectations represented by such statements or information are
reasonable, there can be no assurance that a forward-looking statement or
information herein will prove to be accurate. Forward-looking statements and
information by their nature are based on assumptions and involve known and
unknown risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or industry results, to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. These statements speak only as of
the date of the news release and are expressly qualified, in their entirety, by
this cautionary statement.

Grafico Azioni IEMR Resources (TSXV:IRI)
Storico
Da Ott 2024 a Nov 2024

Grafico Azioni IEMR Resources (TSXV:IRI)
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Da Nov 2023 a Nov 2024