Price reflects 16.67% discount to company’s closing price on Monday
By Devika Patel
Knoxville, Tenn., March 23 – Nevada Zinc Corp. said it increased its non-brokered private placement of stock to C$2 million due to additional demand. The deal priced for C$1.5 million on March 15.
The company will sell 6,666,666 common shares at $0.30 each. The price per share is a 16.67% discount to the company’s $0.36 closing price on March 14.
Proceeds will be used for exploration, metallurgical test work and general working capital purposes.
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$2 million
|
| Shares: | 6,666,666
|
| 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
|
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