Deal conducted by underwriter Canaccord Genuity on a bought-deal basis
By Devika Patel
Knoxville, Tenn., Aug. 1 - Canadian Zinc Corp. said it will conduct a C$4.01 million private placement of stock via underwriter Canaccord Genuity Corp.
The company will sell 6.46 million flow-through common shares at C$0.62 per share on a bought-deal basis. The price per share reflects a 3.33% premium to the July 31 closing share price of C$0.60.
Settlement is expected Aug. 20.
Proceeds will be used for exploration at the Prairie Creek Mine and the South Tally Pond property.
Toronto-based Canadian Zinc is a zinc exploration company.
| Issuer: | Canadian Zinc Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$4,005,200
|
| Shares: | 6.46 million
|
| Price: | C$0.62
|
| Warrants: | No
|
| Underwriter: | Canaccord Genuity Corp.
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 20
|
| Stock symbol: | Toronto: CZN
|
| Stock price: | C$0.60 at close July 31
|
| Market capitalization: | C$101.7 million
|
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