Zinccorp Resources Inc. (TSX-V: ZN) (the ‘Company’) is pleased to announce that it has arranged for a private placement to up to 10,000,000 units for total proceeds of up to $600,000. The financing will consist of flow through units priced at $0.06 per unit and non-flow through units priced at $0.05 per unit. Each of the units will consist of one flow through or non-flow through common share and one non-flow through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for two years at a price of $0.10 per share. In accordance with Exchange policies, finders' fees may be paid on the funds raised. The private placement is subject to regulatory approval.
The proceeds of the private placement will be used for exploration on the Company’s Ontario and Yukon properties and for general working capital.