ScoZinc Mining Announces C$1.5 Million Private Placement
TSX VENTURE: SZM
COOKS BROOK, NOVA SCOTIA--(Marketwired - Oct. 25, 2017) - ScoZinc Mining Ltd. (TSX VENTURE:SZM) ("ScoZinc" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement of up to 1,000,000 common shares ("Common Shares") at a price of CAN$1.50 per Common Share, for gross proceeds of approximately $1,500,000 (the "Offering").
The securities issued pursuant to the Offering will be subject to a four months and one day statutory hold period.
ScoZinc intends to use the net proceeds from the Offering to prepare for restart of operations at their 100%-owned ScoZinc operation in Nova Scotia and for general working capital purposes.
The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange ("TSX-V") and applicable securities regulatory authorities.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About ScoZinc Mining Ltd.
ScoZinc is an established Canadian-based zinc and lead exploration and development company that owns the ScoZinc Mine near Halifax, Nova Scotia. The Company has a strong working capital position and no debt. The Company has 3,951,045 common shares outstanding which are traded on the TSX Venture Exchange under the symbol "SZM".