IEMR Announces Loans, Amendment to Outstanding Loan with Related Party and Convertible Note Financing with Related Party

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 17, 2014) -

Promissory Notes

IEMR Resources Inc. (TSX VENTURE:IRI) ("IEMR" or the "Company") wishes to announce that it has issued two promissory notes (the "New Notes") in respect of loans (the "New Loans") made to the Company by International Energy and Mineral Resources Investment (Hong Kong) Company Limited (the "Lender"), the first in the principal amount of Cdn$205,331.50 having a maturity date of January 23, 2017 and bearing interest at a rate of 6.5% per annum payable on such maturity date, and the second in the amount of Cdn$127,351.00 having a maturity date of February 28, 2017 and bearing interest at a rate of 6.5% per annum payable on such maturity date. The New Loans are unsecured.

In addition, the Company has amended and restated the promissory note (the "Amended and Restated Note") issued by the Company in respect of the Cdn$250,000 loan (the "August 2013 Loan") made by the Lender to the Company that was announced on August 2, 2013. The Amended and Restated Note now provides that the August 2013 Loan shall bear interest at a rate of 6% per annum accruing from August 1, 2013 and payable on August 1, 2016, the maturity date of the August 2013 Loan. The Amended and Restate Note also clarifies that the principal amount of the August 2013 Loan was advanced in Canadian dollars. The August 2013 Loan continues to be unsecured.

The Lender is a "Related Party" of the Company pursuant to the TSX Venture Exchange policies, as Mr. Hongxue Fu, Chief Executive Officer and director of the Company, holds a controlling interest in the Lender.

The New Loans, and the terms of the New Notes and the Amended and Restated Note were approved by the board of directors of the Company, other than Hongxue Fu, who declared his controlling interest in the Lender and abstained from voting with respect to the New Loans, the New Notes and the Amended and Restated Note. The board of directors believe that the New Loans are in the best interests of the Company.

Convertible Note Financing with Related Party

The Company also wishes to announce that, subject to the approval of the TSX Venture Exchange, it proposes to issue an unsecured convertible note (the "Convertible Note") to the Lender in the principal amount of US$800,000 having a maturity date of December 1, 2014 (the "Convertible Note Maturity Date") and bearing interest at a rate of 6% per annum payable on the Convertible Note Maturity Date. At the option of the Lender, the Convertible Note shall be convertible at any time prior to the Convertible Note Maturity Date, in whole or in part, into common shares of the Company at a price of Cdn$0.10 per common share.