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NorZinc Announces Private Placement

by ahnationtalk on February 26, 202035 Views

February 25, 2020 ─ Vancouver, British Columbia ─ NorZinc Ltd. (TSX: NZC; OTCQB: NORZF) (the “Company” or “NorZinc”) is pleased to announce a non-brokered private placement of 7,846,153 common shares of the Company at a price of $0.065 per share, for gross proceeds of $510,000. In addition, Resources Capital Fund VI L.P. (“RCF”) has the right to purchase up to 5,385,443 additional shares pursuant to the participation right in its Investor Agreement available on www.sedar.com.

The proceeds from the private placement will be used for working capital purposes. The private placement remains subject to TSX approval. Shares issued in the private placement will be subject to a four-month hold period under applicable Canadian securities laws.

Qualified investors in Canada interested in participating in the private placement are encouraged to contact the Company at: IR@norzinc.com.

Certain directors and officers of the Company are expected to acquire securities under the private placement. Such participation would be considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

This press release is not an offer of the common shares for sale in the United States. The common shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. The common shares may not be offered or sold in the United States absent registration under the U.S. Securities Act, and applicable state securities law or an exemption from such registration requirements. The common shares have not been and will not be publicly offered in the United States.

About NorZinc

NorZinc is a TSX-listed mine development Company trading under the symbol “NZC”. NorZinc is developing its key project, the 100%-owned high grade zinc-lead-silver Prairie Creek Mine, located in the Northwest Territories. NorZinc also owns projects in Newfoundland that host several zinc-lead-copper-gold-silver deposits.

For further information: Don MacDonald, President & CEO, (604) 688-2001, Suite 1710 – 650 West Georgia Street, Vancouver, BC V6B 4N9; Steve Dawson, VP Corporate Development, (416) 203-1418, Suite 1805, 55 University Avenue, Toronto, ON M5J 2H7, steve.dawson@norzinc.com; Tollfree:1-866-688-2001; E-mail: invest@norzinc.com; Website: www.norzinc.com

NT4

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