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ScoZinc Mining Announces C$1,000,000 Non-Brokered Private Placement
COOKS BROOK, Nova Scotia, Aug. 14, 2019 (GLOBE NEWSWIRE) -- ScoZinc Mining Ltd. (TSX-V: SZM) (“ScoZinc” or the “Company”) is pleased to announce a non-brokered
About this update from Edm Resources Inc
[{"type":"text","content":" COOKS BROOK, Nova Scotia, Aug. 14, 2019 (GLOBE NEWSWIRE) -- ScoZinc Mining Ltd. (TSX-V: SZM) (“ScoZinc” or the “Company”) is pleased to announce a non-brokered private placement financing for aggregate gross proceeds of C$1,000,000 (the \"Offering\"). The Offering will be conducted through the sale units of the Company (“Units”) at a price of C$0.40 per Unit. Each Unit shall consist of one common share of the Company (“Common Share”) and one Common Share purchase warrant (a “Warrant”), with each full warrant exercisable into a Common Share at a price of $0.55 per Common Share for 24 months following the closing of the Offering. Holders of Warrants shall be restricted from exercising any number of Warrants that will cause the holder to own such number of Common Shares that will equal or exceed 20% of the then issued and outstanding Common Shares. The Company shall have the option to increase the size of the Offering by an additional C$300,000. The Offering is subject to the approval of the TSXV. The securities issued pursuant to the Offering are subject to a four month and one-day statutory hold period. Subscriptions for C$500,000 of the Offering have been received and will close as the first tranche of the Offering on receipt of TSXV approval. ScoZinc intends to use the net proceeds from the Offering primarily to prepare for the restart of operations at its 100%-owned ScoZinc mine in Nova Scotia (the “ScoZinc Mine”), and for general working capital purposes. About ScoZinc Mining Ltd. ScoZinc is an established Canadian-based zinc and lead exploration and development company that owns the ScoZinc Mine and related facilities near Halifax, Nova Scotia which is currently on care and maintenance. The Company intends to restart operations as soon as possible. The Company has a strong working capital position and no debt. For more information, please contact: Mr. Joseph Ringwald – President and CEO Telephone: +1 (604) 347-7661 [email protected] CAUTIONARY STATEMENTS Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.This News Release includes certain forward-looking statements which are not comprised of historical facts. Forward-looking statements ...