Zincore Arranges Loans
VANCOUVER, BC--(Marketwired - September 08, 2015) - Zincore Metals Inc. (NEX BOARD: ZNC.H) ("Zincore", the "Company") reports that it's Peruvian subsidiary, Exploraciones Collasuyo S.A.C., ("Collasuyo") has arranged two new arms-length, unsecured loans with Grupo Inversionista Las Olas S.A. ("Las Olas") for US$50,000 and US$120,000 (the "Loans"). The Loans, which mature in 24 months on August 12, 2017 and September 3, 2017, respectively, have identical terms, with an interest rate of 12% compounded annually and with principal and applicable accrued interest to be repaid at maturity. Any early repayment of the Loans is at the option of the Company. Proceeds from the Loans are to be used for payment of: some outstanding payables, property maintenance claims, and general working capital purposes. These Loans are in addition to the US$200,000 loan with Las Olas announced June 26, 2015. Total loans between the two entities now amount to US$370,000.
About Zincore
Zincore is a Vancouver-based mineral exploration company focused on zinc and related base metal opportunities in Peru. The Company's common shares trade on both the NEX exchange under the symbol ZNC.H. For more information, please see our website at www.zincoremetals.com.
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Forward-looking Statements: Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events or the Company's future performance, business prospects or opportunities. Forward-looking information includes, but is not limited to, statements with respect to the Company's exploration activities. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect, "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions) are not statements of historical fact and may be forward looking information. The Company believes that the expectations reflected in such forward looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. These statements speak only as of the date of this press release. The Company does not intend, and does not assume any obligation, to update any forward-looking information except as required by law. Forward looking information involves risks and uncertainties which may cause actual results to be materially different from those expressed or implied by such forward looking information. Such risk and uncertainties relate to, among other things, results of exploration and development activities, the Company's historical experience with development-stage mining operations, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, changes in commodity prices, actual operating and financial performance of facilities, equipment and processes relative to specifications and expectations and unanticipated environmental impacts on operations, as well as those factors discussed in the section entitled "Risk Factors" and elsewhere in the Annual Information Form of Zincore dated April 28, 2015 which is filed with Canadian securities regulatory authorities and available on SEDAR (www.sedar.com). Such information contained herein represents management's best judgment as of the date hereof based on information currently available.