Business
ScoZinc Closes Fancamp Investments
Halifax, Nova Scotia--(Newsfile Corp. - October 6, 2021) - ScoZinc Mining Ltd. ( TSXV: SZM ) (...
About this update from Edm Resources Inc
[{"type":"text","content":"ScoZinc Closes Fancamp InvestmentsHalifax, Nova Scotia--(Newsfile Corp. - October 6, 2021) - ScoZinc Mining Ltd. (TSXV: SZM) (\"ScoZinc\" or the \"Company\") is pleased to announce that it has closed its recently announced private placement and shares for debt transactions with Fancamp Exploration Ltd. (\"Fancamp\").ScoZinc's President and CEO, Mr. Mark Haywood, commented: \"We are very pleased to have closed this significant $1,300,000 investment by Fancamp, and to have settled our $250,000 debt to Fancamp at the same time. We welcome Fancamp as a significant shareholder in ScoZinc, with ownership of approximately 13.1% of our issued and outstanding common shares.\"Fancamp purchased 1,969,697 common shares of ScoZinc at $0.66 per share for a total purchase price of $1,300,000. Fancamp's secured loan to ScoZinc in the amount of $250,000 was settled by the issuance to Fancamp of an additional 378,788 common shares of ScoZinc at a deemed issue price of $0.66 per share.The shares issued pursuant to the private placement and debt settlement are subject to a hold period which ends on February 6, 2022.About ScoZinc Mining Ltd.ScoZinc is a Canadian exploration and mining company that has full ownership of the Scotia Mine and related facilities near Halifax, Nova Scotia. ScoZinc also holds several prospective exploration licenses nearby its Scotia Mine and in surrounding regions of Nova Scotia.The Company's common shares are traded on the TSX Venture Exchange under the symbol \"SZM\". For more information, please contact:Mark Haywood President & Chief Executive OfficerRobert Suttie Chief Financial OfficerSimion Candrea VP Investor RelationsHead Office Purdy's Wharf, 1959 Upper Water Street, Suite 1301, Nova Scotia, B3J 3N2, Canada Telephone +1 (902) 482 4481Facsimile +1 (902) 422 2388Email & Web [email protected] & www.ScoZinc.comThe Company's corporate filings and technical reports can be viewed on the Company's SEDAR profile at www.sedar.com. Further information on ScoZinc is also available on Facebook at www.facebook.com/ScoZinc, Twitter at www.twitter.com/ScoZincMining, and LinkedIn at www.linkedin.com/company/scozinc-mining-ltd.CAUTIONARY STATEMENTSNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adeq...