Nevada Zinc Announces up to $1,500,000 Non-Brokered Private Placement
TORONTO, March 15, 2016 (GLOBE NEWSWIRE) -- Nevada Zinc Corp. (the “Corporation”) (TSX-V:NZN) is pleased to announce that it intends to complete a non-brokered private placement financing of up to 5,000,000 common shares in the capital stock of the Corporation (“Shares”) at a price of $0.30 per Share for gross proceeds of up to $1,500,000 (the “Offering”).
The net proceeds of the Offering will be used for exploration, metallurgical test work and general working capital purposes. The Shares issued pursuant to the Offering will be subject to a statutory four month and one day hold period. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities. The Corporation intends to close the Offering on or about March 31, 2016.
An 8% finder’s fee is payable in cash or Shares (at a deemed value of $0.30 per Share) to eligible finders, along with finder’s warrants (“Finder’s Warrants”) equal to 8% of the number of Shares placed by an eligible finder pursuant to the Offering. Each Finder’s Warrant shall entitle the holder to acquire one Share at a price of $0.30 per Share for a period of 24 months following the closing date of the Offering.
About Nevada Zinc
The Corporation is a discovery driven, early-stage mineral exploration company with a proven management team focused on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders. The Corporation’s existing projects are located in Nevada and Yukon.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Nevada Zinc Corp.
141 Adelaide St. West, Suite 1660
Toronto, Ontario M5H 3L5
Tel: 416.504.8821
Bruce Durham, President and CEO
bdurham@nevadazinc.com
www.nevadazinc.com