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Report: Imperial Metals hires Bank of Montreal to accelerate restructuring

Imperial Metals Corp. engaged Bank of Montreal to expedite a formal restructuring process that may include a US$1 billion company sale, Reuters reported Dec. 14, citing two sources familiar with the matter.

Imperial established a special committee in September to start a financial and business restructuring process by identifying strategic alternatives including joint ventures and a total or partial sale of the company.

Neither the company nor the investment bank commented on the situation.

Imperial produces copper and gold at its Red Chris, Mount Polley and Huckleberry mines and produces lead and zinc at its Ruddock Creek joint venture in British Columbia.