Price reflects 16.67% discount to company’s closing price on Monday
By Wendy Van Sickle
Columbus, Ohio, March 15 – Nevada Zinc Corp. said it plans an up to C$1.5 million non-brokered private placement of up to 5 million common shares at $0.30 each.
The price per share is a 16.67% discount to the company’s closing price on Monday.
Proceeds will be used for exploration, metallurgical test work and general working capital purposes.
The company will pay a finder’s fee of 8%, in cash or shares, of the proceeds, along with warrants equal to 8% of the number of shares placed by an eligible finder. The warrants will be good for one share apiece at a price of C$0.30 for up to 24 months, according to a company notice.
The Toronto-based junior mineral exploration company focuses on defining a zinc resource at its fully owned Lone Mountain project near Eureka, Nevada.
| Issuer: | Nevada Zinc Corp.
|
| Issue: | Common shares
|
| Amount: | C$1.5 million
|
| Shares: | 5 million
|
| Price: | C$0.30
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | March 15
|
| Settlement date: | March 31
|
| Stock symbol: | TSX Venture: NZN
|
| Stock price: | $0.36 at close March 14
|
| Market capitalization: | C$21.34 million
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
