IMX Resources (ASX:IXR, TSX:IXR) is voluntarily delisting from the Toronto Stock Exchange (TSX) to reduce costs due to the limited trading volume and low ownership of IXR on the TSX.
Shares in the company will continue to trade on the Australian Securities Exchange.
Earlier this month, IMX secured a cornerstone investment from a prominent Chinese business leader for over half of a $3 million share placement priced at $0.012.
The company will raise a further $1 million through a Share Purchase Plan.
Proceeds will be used to further advance the Pre-Feasibility Study on the Chilalo Graphite Project and progress exploration of the Kishugu and Naujombo gold targets in Tanzania.
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