05:33 PM EDT, 06/24/2024 (MT Newswires) -- Imperial Metals ( IPMLF ) on Monday said it extending the maturity of a $34.47-million debenture issue.

The debentures originally had a maturity date of July 1, 2024 and interest at a rate of 12% per annum, with interest paid semi-annually in cash. The debentures have been amended to extend the maturity date to Nov. 1, 2025 and to include a 2% prepayment penalty on the outstanding principal amount in the event that the debentures are prepaid by the company prior to Nov.1, 2025.

As previously disclosed, N. Murray Edwards purchased debentures in the amount of $21 million. In addition, directors and officers of the Company purchased $1.18 million of the debentures.