The Prospector News

Zinc One Closes Final Tranche of Non-Brokered Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Zinc One Closes Final Tranche of Non-Brokered Private Placement

 

 

 

 

 

Zinc One Resources Inc. (TSX-V: Z) (OTC Pink: ZZZOF) (FSE: RH33) announces that it has closed the second and final tranche of its previously announced non-brokered private placement announced on May 2, 2018.

 

 

The Company has issued a further 6,532,216 units at a price of C$0.24 per unit, for gross proceeds of C$1,567,732. Together with the first tranche, the Financing was oversubscribed with a total of 22,595,502 units issued for gross proceeds of C$5,422,921. The first tranche was closed on May 22, 2018 (see Company’s news release of same date).

 

 

Each Unit is comprised of one common share of the Company and one-half of one transferable common share purchase warrant. Each Warrant will entitle the holder to purchase one additional common share of the Company at $0.35 per share for a period of three years from the date of issue.

 

 

All securities issued related to the final tranche of the Financing are subject to a four-month statutory hold period expiring October 26, 2018. Zinc One also paid in connection to the Financing, a total of C$4,293 in finders’ fees and issued a total of 17,889 Warrants to finders.

 

 

Proceeds of the Financing are being used for exploration activities on the Bongará Zinc Mine Project in Peru, satisfying the debt legacy associated with the acquisition of Forrester Metals Inc. and 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. The Company’s key assets are the Bongará Zinc Mine Project and the Charlotte Bongará Zinc Project in north-central Peru. The Bongará Zinc Mine Project was in production from 2007 to 2008, but was closed due to the global financial crisis and concurrent decrease in the zinc price. Past production included 20% zinc grades and recoveries over 90% from surface and near-surface zinc-oxide mineralization. High-grade, zinc-oxide mineralization is known to outcrop between the mined area and the Charlotte Bongará Project, which is nearly six kilometres to the NNW and where past drilling intercepted various near-surface zones with high-grade zinc. Zinc One is managed by a proven team of geologists and engineers who have previously constructed and operated successful mining operations.

 

Posted June 25, 2018

Share this news article

MORE or "UNCATEGORIZED"


Equity Reports Additional High-Grade Mineralization at the Camp and Sveinson Targets, Silver Queen Project, BC; Drilling Resumes

Equity Metals Corporation (TSX-V: EQTY) reports thick intercepts ... READ MORE

May 18, 2022

Freegold Intersects 2.49 g/t Au over 167.7m and 0.94g/t Au over 617 m at Golden Summit

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) is pleased to... READ MORE

May 18, 2022

Sitka Intercepts 107.5 Metres of 1.44 g/t Gold From Surface Including 2.0 Metres of 35.60 g/t Gold at its RC Gold Project in Yukon

Sitka Gold Corp. (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased... READ MORE

May 18, 2022

Appia Announces Operational And Drilling Update With New Intersections Of 50+ Metres Of Anomalous Radioactivity At Alces Lake Rare Earth Property, Northern Saskatchewan

Appia Rare Earths & Uranium Corp. (CSE:API) (OTCQB:APAAF) (Ge... READ MORE

May 18, 2022

STARR PEAK REPORTS 5.03% ZINC-EQUIVALENT OVER 12.5 METERS, HIGH GRADE COPPER INTERCEPT, AND DISCOVERY OF NEW 1 KM LONG VMS HORIZON

Starr Peak Mining Ltd.  (TSX-V: STE) (OTCQX: STRPF) is pleased ... READ MORE

May 18, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News