secwatch.observer — SEC 8-K summary
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Issuer:     I-Minerals Inc (—)
CIK:        0001405663
Form:       8-K
Filed at:   2023-03-06T23:59:59+00:00
Accession:  0001472375-23-000037
Event type: m_and_a
Sentiment:  negative
Materiality: 0.90
Item codes: 2.01, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

I-Minerals completes sale of i-minerals USA to BV Lending; company now has no assets other than cash
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- Shareholders approved disposition with 97.37% special resolution and 84.71% majority-of-minority vote.
- Consideration: cancellation of ~$25.7M intercompany debt, set-off of $3M debt, and transfer of remaining ~$32.4M debt; company now debt-free except $450k promissory note.
- After sale, company has no mineral properties and only cash on hand; plans to file Form 15 to terminate SEC reporting.
- BV Lending is an affiliate of BV Natural Resources LLC, which beneficially owns 39.4% of I-Minerals shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1405663/000147237523000037/0001472375-23-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1405663/000147237523000037/ixform8k.htm
  HTML page:      https://secwatch.observer/filing/0001472375-23-000037

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