Vancouver, British Columbia--(Newsfile Corp. - April 24, 2018) - I-Minerals lnc. (TSXV: IMA) (OTCQB: IMAHF) (FSE: 61M) (the "Company") announces its ULTRA HalloPure✍ halloysite has been used for the production of prototypes of HEAL CARE, an innovative wound bandage. See the Company's press releases of February 9, 2016 Initial results for this life science product and January 18, 2017 for earlier development updates.
HEAL CARE has now progressed to prototype production under the management of Speed Care Mineral UG (haftungbeschr.) ("Speed Care"), a company situated in Neubrandenburg, Germany. As noted in the Company's prior press releases the HEAL CARE product is a halloysite impregnated gauze that demonstrates blood clotting action comparable, or in some instances, better than other products such as Z-Medica 's Combat Gauze product. HEAL CARE was developed with the support of several contract partners working in conjunction with Speed Care. The material components and production technology for HEAL CARE are protected by patent application. Results of the effectiveness of HEAL CARE have been documented through a series of extended in-vitro and animal test programs completed under the supervision of leading medical doctors. The excellent results to date have drawn the attention of four European medical companies that have expressed interest in the future distribution of HEAL CARE. The further development concept of Speed Care was awarded by the EU within the "Horizon 2020-Programm" with the "Seal of Excellence". In addition, on April 23, 2018 Speed Care Mineral was named the winner of the Health Care Competition 2018 Mecklenburg-Vorpommern county award for the concept and the high innovation potential.
"Halloysite is a truly unique mineral and for the high value life science applications such as HEAL CARE, our ULTRA Hallopure is the best halloysite product available for such applications." stated John Theobald, President and CEO. "We are pleased to have provided ULTRA Hallopure for the development of the innovative HEAL CARE product and as noted in our recent press release, we have started a bulk sample processing program that is forecast to make a further 3 tons of our HalloPure and ULTRA HalloPure products available for commercialization of HEAL CARE and other life science products. For applications such as life sciences, our combination of the size and geometry of the nanotube together with very low heavy metals levels and no cristobalite or alunite, our ULTRA HalloPure has no real competitors."
A. Lamar Long, CPG, is a qualified person ("QP") for I-Minerals Inc. and has reviewed and approved the contents of this release
About Speed Care Mineral UG (haftungsbeschr)
Speed Care is a developer and supplier of medical devices based in Neubrandenburg, Germany. Founders of the company have a long history of expertise in high purity mineral products, the development of innovative new textile fibers and have been instrumental in the financing and marketing of the medical devices. Speed Care along with HEAL CARE was recently invited to participate in European Union ("EU") competition "Horizon 2020" and was also invited to the EU Top 50 Millennial Start-Up Competition based on its EU — Evaluation Summary with "Seal of Excellence".
About I-Minerals Inc.
I-Minerals is developing multiple deposits of high purity, high value halloysite, quartz, potassium feldspar and kaolin at its strategically located Helmer-Bovill property in north central Idaho. A 2016 Feasibility Study on the Bovill Kaolin Deposit led by GBM Engineers LLC, who were responsible for overall project management and the process plant and infrastructure design, including OPEX and CAPEX calculated an After Tax NPV of US$249.8 million with a 25.8% After Tax IRR. Initial CAPEX was estimated at $108.3 million with a 3.7 year After Tax payback. Other engineering services were provided by HDR Engineering, Inc. (all environmental components; hydrology / hydrogeology; road design); Tetra Tech, Inc. (tailings storage facility design); Mine Development Associates (mine modelling; ore scheduling; mineral reserve estimation); and SRK Consulting (U.S.) Inc. (mineral resource estimation). The project has received mine and water permits from the State of Idaho.
per: "John Theobald"
President and CEO
This News Release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: changes in the world wide price of mineral market conditions, risks inherent in mineral exploration, risk associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital.
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Paul J.Searle, Investor Relations
877-303-6573 or 604-303-6573
Email: [email protected]
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