Northern Securities was lead agent, selling shares at C$0.70 apiece
By Devika Patel
Knoxville, Tenn., Dec. 23 - Canadian Zinc Corp. said it increased and settled a private placement of stock. The deal priced for C$2 million on Dec. 6 and raised C$2.5 million through lead agent Northern Securities Inc.
The company sold 3,571,429 flow-through shares at C$0.70 per share, a 7.69% premium to the Dec. 3 closing share price of C$0.65.
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.
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Issue: | Flow-through shares
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Amount: | C$2.5 million
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Shares: | 3,571,429
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Price: | C$0.70
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Warrants: | No
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Agent: | Northern Securities Inc. (lead)
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Pricing date: | Dec. 6
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Settlement date: | Dec. 23
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Stock symbol: | Toronto: CZN
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Stock price: | C$0.70 at close Dec. 6
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Market capitalization: | C$80.86 million
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