ScoZinc Updates on C$1,000,000 Non-Brokered Private Placement
16 8월 2019 - 8:30PM
ScoZinc Mining Ltd. (
TSX-V: SZM)
(“
ScoZinc” or the “
Company”)
wishes to provide an update to its previously announced August 14,
2019 news release regarding 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 of 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.
It is anticipated that following the completion
of the now fully allocated first tranche of the Offering for the
gross proceeds of $500,000, which is expected to close in the
coming days, Mr. Ashwath Mehra will be appointed as a new
independent director of the Company, and Mr. Mark Haywood will be
appointed as the President and Chief Executive Officer of the
Company. The Company will make a further announcement upon these
appointments becoming effective.
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.
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.
Pursuant to the Company’s Stock Option Plan, the
Board of Directors has granted certain consultants to the company a
total of 65,000 Stock Options at an exercise price of C$0.45 each.
All Options are fully vesting on completion of the first tranche of
the Offering and have a term of 5 years.
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
info@scozinc.com
Neither 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 adequacy or
accuracy of this release.
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 include estimates and statements
that describe the Company’s future plans, objectives or goals,
including words to the effect that the Company or management
expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”,
“will”, or “plan”. Since forward-looking statements are based on
assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although
these statements are based on information currently available to
the Company, the Company provides no assurance that actual results
will meet management’s expectations. Risks, uncertainties and other
factors involved with forward-looking information could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Forward looking information in this
news release includes, but is not limited to, the Company’s
objectives, goals or future plans, statements, potential
mineralization, exploration and development results, the estimation
of mineral resources, exploration and mine development plans,
timing of the commencement of operations and estimates of market
conditions. In particular, the Company has not made a
production decision with respect to the ScoZinc Mine. The Company
has not completed a feasibility study or established the economic
viability of the Project or proposed operations on the ScoZinc
Mine, and no mineral reserves have been established for the ScoZinc
Mine that would support a production decision. Mineral exploration
projects which are put into production without first establishing
mineral reserves and completing a feasibility study have
historically had a higher risk of economic or technical failure.
There can be no assurance that forward-looking statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from ScoZinc’s expectations include, among others, the
ability of ScoZinc to receive the necessary regulatory approvals to
complete the Offering, availability and costs of financing needed
in the future, changes in equity markets, risks related to
international operations, the actual results of current exploration
activities, delays in the development of projects, conclusions of
economic evaluations and changes in project parameters as plans
continue to be refined as well as future prices of metals, as well
as those factors discussed in the section entitled “Risk Factors”
in ScoZinc’s Management’s Discussion and Analysis. Although ScoZinc
has attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
ScoZinc Mining (TSXV:SZM)
과거 데이터 주식 차트
부터 2월(2) 2025 으로 3월(3) 2025
ScoZinc Mining (TSXV:SZM)
과거 데이터 주식 차트
부터 3월(3) 2024 으로 3월(3) 2025