TORONTO, March 23, 2016 (GLOBE NEWSWIRE) -- Nevada Zinc Corporation (the “Corporation”) (TSX-V:NZN) is pleased to announce increased investor demand in connection with its previously announced $1,500,000 private placement (the “Offering”) on March 15, 2016. As a result of this additional demand the Corporation has increased the size of the Offering by 33% to an aggregate of 6,666,666 common shares (“Shares”) at a price of $0.30 per Share for aggregate gross proceeds to the Corporation of $2,000,000. The Offering is now fully subscribed and is expected to close on or about March 31, 2016.
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 and customary closing conditions for a transaction of this nature. The Shares issued pursuant to the Offering will be subject to a four month and one day statutory hold period.
About Nevada Zinc
The Corporation is a discovery driven, early-stage mineral exploration company with a proven management team focused on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders. The Corporation’s existing projects are located in Nevada and Yukon.
Neither the 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.