Ms. Monica Hamm reports
ZINC ONE CLOSES TRANCHE 1 FINANCING OF $3.855 MILLION
Zinc One Resources Inc. has closed the first tranche of its previously announced private placement financing by issuing a total of 16,063,286 units at a price of 24 cents per unit for gross proceeds of $3,855,188.
Each unit comprises one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at 35 cents per share for a period of three years from the date of issue.
All securities issued in connection with the private placement are subject to a four-month statutory hold period expiring on Sept. 18, 2018. Zinc One paid finders a total of $57,401.28 and issued finders a total of 227,172 warrants.
Proceeds of the financing will be used for exploration activities on the Bongara zinc mine project and for working capital purposes.
About Zinc One Resources Inc.
Zinc One is focused on the exploration and development of prospective and advanced zinc projects in mining-friendly jurisdictions. Zinc One's key assets are the Bongara zinc mine project and the Charlotte Bongara zinc project in north-central Peru.
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