- Nevada Zinc (NZN) has closed a non-brokered private placement for aggregate gross proceeds of $750,000
- The company issued 10,000,000 units priced at $0.075 per unit
- Nevada Zinc Corp is a Canadian-based mineral exploration company
- Shares of Nevada Zinc Corporation (NZN) opened trading at C$0.065
Nevada Zinc (NZN) has closed a non-brokered private placement for aggregate gross proceeds of $750,000.
The company issued 10,000,000 units priced at $0.075 per unit. Each unit consists of one common share and one half of a share purchase warrant. Each whole warrant entitles the holder to purchase one additional share at a price of $0.14 for a period of eighteen months from the date of issuance.
The warrants are subject to an acceleration clause.
The net proceeds will be used to fund the ongoing multiphase pilot plant program, permitting for the company’s Lone Mountain deposit, and for general corporate and working capital.
The securities issued are subject to a hold period ending on June 12, 2022.
Directors and officers of the company subscribed for an aggregate of 1,713,333 units representing approximately 17 per cent of the financing.
Nevada Zinc Corp is a Canadian-based mineral exploration company. The company’s principal business activity is a mineral exploration in Nevada.
Shares of Nevada Zinc Corporation (NZN) opened trading at C$0.065.