20:03:08 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



InZinc Mining Ltd
Symbol IZN
Shares Issued 66,511,419
Close 2014-09-16 C$ 0.185
Market Cap C$ 12,304,613
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InZinc Mining arranges $1-million private placement

2014-09-19 11:14 ET - News Release

Mr. Chris Staargaard reports

INZINC ANNOUNCES ADDITIONAL $1 MILLION PRIVATE PLACEMENT

InZinc Mining Ltd. has arranged a non-brokered private placement of up to 5.68 million units at a price of 18 cents per unit for gross proceeds of approximately $1-million. Each unit consists of one common share and one-half of one common share purchase warrant. Each full warrant will be exercisable to acquire one additional common share of the company at a price of 30 cents per share for a period of 24 months. The financing follows the company's $600,000 financing which closed on Aug. 29, 2014.

In connection with the private placement, the company will pay finders' fees to certain arm's-length individuals on a portion of the placement consisting of a cash fee equal to 7 per cent of the gross proceeds received by the company and warrants, having the same attributes as the warrants constituting the units, equal to 7 per cent of the units sold under the placement through the efforts of the finders. No other fee or commission is payable by the company in connection with the financing.

The net proceeds from the private placement will be used for advancement of the company's West Desert project and for general corporate purposes.

Closing of the financing is subject to receipt of all regulatory approvals, including the approval of the TSX Venture Exchange. The securities issued in connection with the financing will be subject to a four-month restriction on resale from the completion date.

We seek Safe Harbor.

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