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Integral Metals Announces Secured Convertible Debt Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CALGARY, Alberta, June 24, 2025 (GLOBE NEWSWIRE) -- Integral Metals Corp. (CSE:INTG, FSE: ZK9)) (the "Company" or "Integral") announces that it has entered into a secured convertible debt financing transaction (the "Transaction") with a strategic investor ("Lender") pursuant to which it has received loan proceeds of US$1,000,000 (the "Loan") on the terms and conditions set forth in a Loan and Security Agreement (the "Agreement").

Pursuant to the Agreement, the Lender shall have the right, in its discretion, to, at any time, in lieu of repayment in cash, convert all or a portion of the principal amount of the outstanding Loan into the Company's common shares (the "Common Shares") at a price per share equal to $0.94, subject to the receipt of regulatory approvals, including of the Canadian Securities Exchange. The Loan, which is set to mature on May 31, 2027, is subject to interest at a rate of 12% per annum and is secured by the Company's interests in the Burntwood Property in north Manitoba.

The Company intends to use the net proceeds of the Loan for the development of the Company's business and for general working capital purposes.

Any securities to be issued under the Transaction will be subject to a four-month and one-day hold period and shall be subject to the receipt of regulatory and exchange approvals.

The securities issuable pursuant to the Transaction have not been, nor will ...