Imperial Ginseng Announces an Update Regarding its Proposed Arrangement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 23, 2015) - Imperial Ginseng Products Ltd. (the "Company") (TSX VENTURE:IGP)(TSX VENTURE:IGP.PRA.A) is pleased to announce that the closing of its previously announced arrangement (the "Arrangement") is expected to occur on June 24, 2015. The Arrangement was approved by holders (the "Preferred Shareholders") of the convertible preference shares, Series "A" of the Company (the "Preferred Shares") at a special meeting held on June 8, 2015. Final approval for the Arrangement was obtained from the Supreme Court of British Columbia on June 11, 2015.

Pursuant to the Arrangement, Preferred Shareholders will receive either $0.50 cash or 1.11 common shares of the Company (the "Common Shares") for each of their Preferred Shares exchanged. The Company will issue 650,192 Common Shares and pay $181,371 to Preferred Shareholders pursuant to the Arrangement.

In connection with the closing of the Arrangement, the Preferred Shares will be delisted from the TSX Venture Exchange at the close of the market on June 23, 2015.

Further details regarding the Arrangement are contained in the Company's management information circular dated May 1, 2015 and available under its profile on SEDAR at www.sedar.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Stephen McCoach, Chief Executive Officer and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the closing date of the Arrangement. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.