IMA Exploration Inc.: Bought Deal Financing Cancelled.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 15, 2003 IMA (Interactive Multimedia Association, Annapolis, MD) An earlier trade association founded in 1988 originally as the Interactive Video Industry Association. It provided an open process for adopting existing technologies and was involved in subjects such as networked services, scripting Exploration Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :IMXPF) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:IMR IMR - Internet Monthly Report ) (BERLIN:IMT IMT, n.pr See inspiratory muscle training. ) (FRANKFURT:IMT) (WKN WKN Wertpapier-Kenn-Nummer (identifying number assigned to securities traded in Germany) WKN Warrior Knowledge Network (US Army) 884971) reports that it has received notice that the bought deal financing announced on September 22, 2003, will not be completed. As previously announced, the financing was scheduled to close on October 2, 2003, the same date on which it received a letter from Aquiline Resources Inc. requesting information on the history of the staking of Navidad. In order to discuss the details of the letter with its financial advisors, IMA was compelled to issue a news release. This has created some uncertainty in the market conditions for the Company's shares that ultimately led to the cancellation of the financing. IMA would like to re-confirm that it is proceeding with the planned exploration program on Navidad as well as other properties, as previously scheduled. The pre-drilling logistics on Navidad are progressing on schedule. IMA Exploration Inc. has a strong treasury in excess of $4,000,000 to fund its exploration objectives. The Company focuses on quality exploration work designed to define economic gold and silver deposits in Argentina and Peru. IMA has put together an enviable property portfolio including over 37 well-located, high-potential projects and is continuing to add to this package through grass-roots exploration and staking. ON BEHALF OF THE BOARD Mr. Joseph Grosso, President & C.E.O. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. 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. 2003 Number 28. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. |
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