INDUSTRIAL MINERALS, INC.
The shares of Industrial Minerals, Inc.
to be subscribed for are to be purchased
pursuant to available exemptions
under applicable Securities Laws.
Per Common Share:
The Subscriber must:
Mark their initials in section 1.3 to note that they are an “accredited investor”.
Sign the Execution Page of the SUBSCRIPTION AGREEMENT (page 6).
Initial as appropriate and sign SCHEDULE 1, ACCREDITED INVESTOR CONFIRMATION.
Return one fully signed and initialled original of the SUBSCRIPTION AGREEMENT and SCHEDULE 1,
ACCREDITED INVESTOR CONFIRMATION, to INDUSTRIAL MINERALS, INC., Attention: President.
This Subscription Agreement is made as of the ___ day of ________, 2007 between Industrial Minerals, Inc. , a Delaware
corporation having a business address at 2904 South Sheridan Way, Suite 100, Oakville, Ontario, L6J 7L7 (the “Company”) and
the undersigned subscriber, Mr. ___________, having an address at * (the “Subscriber”).
The Company is quoted on the NASDAQ OTCBB under the trading symbol “ IDSM.OB ”.
The Subscriber desires to acquire unregistered Common Shares of the Company.
NOW, THEREFORE, for and in consideration of the promises and the mutual covenants hereinafter set forth, the parties
hereto hereby agree as follows:
1.1 Subject to the terms and conditions hereinafter set forth, the Subscriber hereby subscribes for and agrees to acquire
from the Company and the Company hereby agrees to issue and deliver to the Subscriber * fully paid and nonassessable,
restricted (with a Rule 144 legend) Common Shares of the Company (hereinafter such fully paid and nonassessable unregistered
Common Shares of the Company are called the “Shares”) at a price of US$* per Share. The Subscriber understands that the
Shares have not been registered under the Securities Act of 1933, as amended (the “Sec