Zinc One Resources Inc. (TSXV:Z) (OTC Pink:ZZZOF) (FSE:RH33) (“Zinc One” or the “Company”) is pleased to announce that it will conduct a non-brokered private placement of up to 16,666,666 units of the Company (“Units”) at a price of C$0.24 per Unit for gross proceeds of up to C$4,000,000 (the “Private Placement”).
Each Unit offered will be comprised of one common share and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of C$0.35 per share for a period of three (3) years from the date of issuance.
The net proceeds of the Private Placement are expected to be used for exploration activities on the Bongará Zinc Mine Project in Peru, and for general corporate purposes.
Completion of the Private Placement remains subject to the approval of the TSX Venture Exchange. The securities issued in connection with the Private Placement will be subject to a four-month statutory hold period from the date of issuance, according to applicable securities laws. A finder’s fee may be payable on the private placement.
About Zinc One Resources Inc.
Zinc One is focused on the exploration and development of prospective and advanced zinc projects in mining-friendly jurisdictions. The Company’s key assets are the Bongará Zinc Mine Project and the Charlotte Bongará Zinc Project in north-central Peru. The Bongará Zinc Mine Project was in production from 2007 to 2008, but was closed due to the global financial crisis and concurrent decrease in the zinc price. Past production included >20% zinc grades and recoveries over 90% from surface and near-surface zinc-oxide mineralization. High-grade, zinc-oxide mineralization is known to outcrop between the mined area and the Charlotte Bongará Project, which is nearly six kilometres to the NNW and where past drilling intercepted various near-surface zones with high-grade zinc. Zinc One is managed by a proven team of geologists and engineers who have previously constructed and operated successful mining operations.
Additional Information
Monica HammVP, Investor Relations
Zinc One Resources Inc.
Phone: (604) 683-0911
Email: mhamm@zincone.com
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Zinc One cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Zinc One’s limited operating history, its proposed exploration and development activities on the Bongará Zinc Oxide Project and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Zinc One does not undertake to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
The post Zinc One Announces Non-Brokered Private Placement appeared first on Investing News Network.
Leave A Comment
You must be logged in to post a comment.