IMA ups financing

Vancouver Investor demand has prompted IMA Exploration (IMR-V) to increase both the allotment size and price of its latest financing.

The original $1.2 million non-brokered private placement comprised 1.5 million units priced at $0.80 each. A full unit held one share and one warrant, which was exercisable at $1 for 2 years. The newly amended $2.61 million financing includes 2.9 million units priced at $0.90 each. A unit holding one share and half a warrant. A full warrant allows the holder to buy a share in the company for $1.10 over the course of a year.

IMA insiders will pick up a $1.2 million portion of the deal and First Associates Investments will lead the remaining $1.4 million in a brokered private placement. The shares are subject to a four-month hold period.

The junior holds 37 gold and silver projects in Argentina and Peru.

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