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NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 14, 2012) - International Millennium Mining Corp. (News - Market indicators) (the "Company" or "IMMC") announces a private placement of up to $1,000,000 composed of up to 12,500,000 units at $0.08 per unit. Each unit is comprised of one (1) common share and one (1) non-transferable share purchase warrant entitling the holder to purchase an additional share at $0.10 per share for a period of eighteen (18) months from the date of issuance.
The Company will pay up to an 8% finder's fee and issue broker warrants up to 8% of the private placement units. Each broker warrant entitles the holder to acquire one broker unit at $0.08 for a period of eighteen (18) months from the closing of the placement; each broker unit is comprised of one common share and one ordinary share purchase warrant entitling the holder to acquire one additional share for $0.10 for a period of eighteen (18) months from the closing. The private placement is subject to regulatory acceptance.
The Company will use the proceeds of the private placement for exploration work, including a drilling program, on its Nivloc Silver and Gold Project, located in southwestern Nevada, and for working capital.
International Millennium Mining Corp. is a mineral exploration and development company engaged in acquiring known smaller mine deposits, such as its Nivloc, Nevada silver-gold mine project, in the Americas, with the goal of advancing the properties to the mining stage. Emerging targets include silver, gold, copper, zinc and lead. The Company's common shares trade on the TSX Venture Exchange under the symbol: IMI and on the Frankfurt Exchange under the symbol: L9J.
ON BEHALF OF THE BOARD
John A. Versfelt, President & CEO
Further information about the Company can be found on the IMMC website (www.immc.ca), on SEDAR (www.sedar.com).
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes and other business transactions timing. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.