Northern Securities is the lead agent, selling shares at C$0.70 apiece
By Devika Patel
Knoxville, Tenn., Dec. 6 - Canadian Zinc Corp. said it plans a private placement of stock. Lead agent Northern Securities Inc. will assist the company in raising C$2 million.
The company will sell flow-through shares at C$0.70 per share, a 7.69% premium to the Dec. 3 closing share price of C$0.65.
Settlement is expected Dec. 21.
Proceeds will be used for exploration on the Prairie Creek Project and specifically to continue a deep-hole diamond drill exploration program.
Toronto-based Canadian Zinc is a zinc exploration company.
| Issuer: | Canadian Zinc Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$2 million
|
| Price: | C$0.70
|
| Warrants: | No
|
| Agents: | Northern Securities Inc. (lead)
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 21
|
| Stock symbol: | Toronto: CZN
|
| Stock price: | C$0.70 at close Dec. 6
|
| Market capitalization: | C$88.44 million
|
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