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Historical Information for Shareholders

Information for Shareholders of Imperial Stock prior to November 28, 2011

Imperial announces 2:1 stock split

Information for Shareholders of Imperial Stock prior to January 1, 2002

Corporate Reorganization under Plan of Arrangement

On January 1, 2002 Imperial acquired all the mining assets and personnel of the old Imperial Metals Corporation (IPM) pursuant to a Plan of Arrangement under the Company Act of British Columbia and the Companies’ Creditors Arrangement Act. At completion of the reorganization, virtually all debt on the balance sheet was project debt, non-recourse to Imperial. Imperial’s share capital was consolidated on the basis of one common share for each 10 common shares, resulting in 15,769,170 issued and outstanding common shares as at March 31, 2002.

On April 25, 2002 the Company’s common shares listed for trading on the Toronto Stock Exchange under the symbol “III”.

Notice to Shareholders in possession of certificates issued prior to April 2002:

Within the 2002 Plan of Arrangement was a 6 year sunset clause provision. The old Imperial Metals Corporation (IPM) stock certificates that were NOT surrendered by June 1, 2008 - for reissuance as NEW Imperial Metals Corporation (III) - are considered forfeited and of no value.

Allocation of Adjusted Cost Base

The reorganization of Imperial Metals Corporation as outlined in the Company’s Information Circular dated January 18, 2002 was completed in late April 2002. Shareholders of the old Imperial (IPM) at April 24, 2002 had their shares consolidated on a basis of 1 for every 10 common shares held. After consolidation, shareholders received one share in each of the new Imperial (III) and IEI Energy Inc. (IEN).

One reasonable approach for allocating the adjusted cost base (ACB) of the shares previously held in IPM to the ACB of the shares of III and IEN is to take the weighted average trading price during the initial period when both companies were trading. This approach would indicate that for the ten day trading period June 18, 2002 to July 2, 2002 inclusive, 37% of the ACB of IPM shares would be allocated to III and 63% of the ACB of IPM shares would be allocated to IEN.

This information is of a general nature only and is not intended to be, nor should it be construed to be, legal or tax advice to any particular Imperial Shareholder. Accordingly, Imperial Shareholders should consult their own tax advisers with respect to their particular circumstances.

Access to publicly filed documents prior to 2009 are available on