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Zinc One Resources Inc to raise up to C$4mln in private placement

Last updated: 09:36 03 May 2018 EDT, First published: 04:36 03 May 2018 EDT

Zinc in periodic table
Completion of the private placement remains subject to the approval of the TSX Venture Exchange.

Zinc One Resources Inc (CVE:Z) said it is proposing to place up to 16,666,666 units of the company at a price of 24 cents per unit for gross proceeds of up to C$4mln.

In a statement, the company said each unit offered will comprise one common share and one-half of one common share purchase warrant.

READ: Zinc One Resources extends high-grade zinc deposit at the Mina Chica Zone

Each warrant entitles the holder to purchase one additional common share of the company at a price of 35 cents per share for a period of three years from the date of issuance.

Proceeds from the placement will go towards exploration activities on the Bongara zinc mine project in Peru and for general corporate purposes.

Securities issued in connection with the private placement will be subject to a four-month statutory hold period from the date of issuance.

A finder's fee may be payable on the private placement.

Zinc One’s key assets are the Bongara zinc mine project and the Charlotte Bongara zinc project in north-central Peru.

Zinc One Resources agrees to term with InCoR Holdings regarding Bongara Project

Zinc One Resources (CVE:Z) Interim CEO Gunther Roehlig dropped in the Vancouver studio of Proactive Investors to talk about the strategic relationship Zinc One has signed with InCoR Holdings. He talked about the structure of the deal and what it means going forward. Roehlig also addressed...

on 29/5/19