By Sheri Kasprzak
New York, Oct. 3 - Canadian Zinc Corp. said it has arranged a private placement for up to C$5 million and at least C$2 million.
The company intends to sell up to 9,090,909 flow-through shares and at least 3,636,363 flow-through shares at C$0.55 each.
Octagon Capital Corp. is the placement agent for the deal.
The proceeds will be used for exploration expenses on the company's Canadian properties as well as potential acquisitions in Canada.
The deal is expected to close Oct. 20.
Based in Vancouver, B.C., Canadian Zinc is a mineral exploration company.
| Issuer: | Canadian Zinc Corp.
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| Issue: | Flow-through shares
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| Amount: | C$5 million (maximum); C$2 million (minimum)
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| Shares: | 9,090,909 (maximum); 3,636,363 (minimum)
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| Price: | C$0.55
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| Warrants: | No
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| Placement agent: | Octagon Capital Corp.
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| Pricing date: | Oct. 3
|
| Settlement date: | Oct. 20
|
| Stock price: | C$0.55 at close Sept. 30
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