INDUSTRIAL MINERALS INC. ANNOUNCES ENGAGEMENT OF AGENT FOR UP TO US $10 MILLION FUNDING
Toronto, Ontario, Canada — May 13th, 2008 — Industrial Minerals Inc. (IMI) -OTCBB: IDSM - (or “the Company”) today announced it has engaged a placement agent (the “Agent”) to conduct a brokered private placement of special warrants (“Special Warrants”) to
INDUSTRIAL MINERALS INC. (IMI) PLANS EXPANDED 2008 DRILL PROGRAM ON BISSETT CREEK
Toronto, Ontario, Canada — April 15th, 2008 — Industrial Minerals Inc. (IMI) -OTCBB: IDSM - (or “the Company”) is pleased to announce that it has developed plans for an expanded exploratory and confirmation drill program on its Bissett Creek large-flake g
INDUSTRIAL MINERALS INC. (IMI) PURSUING HIGH-PURITY, HIGH VALUE GRAPHITE MARKETS
Toronto, Ontario, Canada — April 10th, 2008 — Industrial Minerals Inc. (IMI) -OTCBB: IDSM - (or “the Company”) is pleased to provide its shareholders with this update on developing market opportunities for its Bissett Creek large-flake graphite property i
INDUSTRIAL MINERALS RECEIVES LOI FROM GRAPHITE CUSTOMER
TORONTO, Ontario, Canada — January 23, 2008 — Industrial Minerals Inc. (OTCBB: IDSM - or "the Company") today announced that it has received a letter of intent (LOI) from ACC Resources Corp LP (ACC), one of the world’s largest refined graphite suppliers,
Industrial Minerals Inc. Provides Corporate Update
TORONTO, Ontario,— (December 20, 2007) — Industrial Minerals Inc. -OTCBB: IDSM - (or “the Company”) today announced it has deferred its previously announced private placement, intended to raise up to US $5.0 million, due to current volatile capital market
Industrial Minerals Receives Positive Results From Preliminary Economic Assessment on Bissett Creek
Toronto, Ontario, Canada — November 21, 2007 — Industrial Minerals Inc. -OTCBB: IDSM - (or “the Company”) is pleased to announce that it has received a draft technical report that was prepared under, and is compliant with, National Instrument 43-101 – St
Industrial Minerals Inc. Executes Licensing Agreement With Hydro Quebec
TORONTO, Ontario, Canada — November 8, 2007 — Industrial Minerals Inc. (OTCBB: IDSM - or "the Company") today announced the licensing of five specific patents related to Lithium (Li)-ion battery technology with Hydro Québec. The term of the agreement is f
Industrial Minerals Inc. Executes Licensing Agreement With Hydro Quebec
INDUSTRIAL MINERALS, INC.
2904 South Sheridan Way, Suite #100–
OakvilleOntarioCanadaL6J 7L7
INDUSTRIAL MINERALS INC. EXECUTES LICENSING AGREEMENT WITH HYDRO
QUEBEC
TORONTO, Ontario, Canada — November 8, 2007— Industrial Minerals Inc. (OTCBB: IDSM - or "the Company") today announcedthe licensing of five specific patents related to Lithium (Li)-ion battery technology with Hydro Québec. The term of the agreement is for a period of 20 years. Hydro Québec is recognized as a world leader in Research related to Lithium (Li) - ion battery technology and have patented Graphite refinement technologies specific to the Li-ion battery field.
The worldwide rights to use the patent rights allow the Company to develop, manufacture, use, sell, offer for sale, distribute or sell the patented products outlined in the agreement.
David Wodar, President and CEO of Industrial Minerals, said, "each cell of a lithium – ion battery uses 1.5 to 2 grams of 99.9+% Graphite, which translates to 20 to 30 kg's of graphite per Hybrid Electric Vehicle (HEV) and sells for a significant premium over the standard 95% purity products. This represents a tremendous opportunity for Industrial Minerals. We look forward to a strong relationship with Québec - Hydro as we continue to advance in our business development."
Hydro Québec concluded this partnership with Industrial Minerals in part because of its confidence in the technical expertise of the Company management team to implement and execute their production program as well as the capabilities and the resources of the Company to market and supply high purity graphite.
Both the Company and Hydro-Québec will continue to work to develop further agreements in regards to the worldwide graphite market.
About Industrial Minerals, Inc.
Industrial Minerals Inc. through its wholly owned subsidiary Industrial Minerals Canada Inc., headquartered in
Oakville,
Ontario,
Canada, owns 100% of the undivided interest in the Bissett Creek Graphite patented mineral lease, containing a resource of 640,000 tons of flake graphite on approximately 10% of the patented mineral lease that has been drilled to date. The property is comprised of 28 claims covering an area of approximately 1,315 hectares (3,250 acres). It has been the subject of substantial earlier exploration drilling, trenching and metallurgical test work by KHD Canada, Kilborn Engineering, Pincock Alan and Holt and Cominco Engineering Services. The property is located in
MariaTownship in the Province of Ontario, Canada. The property is one of the largest and purest natural flake graphite deposits in the world. The Company plans to become the leading producer of large flake crystalline graphite in
North America and a prominent market participant internationally.
SafeHarborStatement
All statements contained herein, as well as oral statements that may be made by the Company or by officers, directors or employees of the Company acting on the Company’s behalf that are not statements of historical fact, constitute “forward-looking statements” and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties are outlined in the Company’s Annual Report on Form 10-K for 2006 as filed with the Securities and Exchange Commission. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
