Zincore and Mines & Metals Trading (PERU) Continue Working Towards Business Combination
P R E S S R E L E A S E
SUITE 202, 5626 LARCH STREET, VANCOUVER, BC V6M 4E1 CANADA
T 604.669.6611 E [email protected] W www.zincoremetals.com
ZINCORE AND MINES & METALS TRADING (PERU) CONTINUE WORKING
TOWARDS BUSINESS COMBINATION
Vancouver, B.C. July 3, 2020 – Zincore Metals Inc. (NEX: ZNC.H ) (“Zincore” or the
“Company”) reports that it has amended its business combination agreement with Mines
& Metals Trading (Peru) PLC (“MMTP”) to further extend the deadline for completion of
the reverse takeover of Zincore by MMTP (the “Transaction”) to September 1, 2020. The
Company had previously announced on April 21, 2020 that the two parties were extending
the agreement to June 1, 2020.
MMTP President and CEO, José María García commented, “Although we are working as
quickly as possible to close this transaction, the COVID-19 global pandemic is obviously
making this process difficult and causing delays in our expected timelines. However, we
remain committed to achieving a public listing through Zincore in order to better unlock
the value of our producing Recuperada asset”.
Upon completion of the Transactio n, it is anticipated that the Company (the “Resulting
Issuer”) will be listed as a Tier 2 issuer on the TSX Venture Exchange (“TSX-V”) and will
continue the exploration and development of MMTP’s Recuperada zinc-lead-silver project
in Huancavelica, Peru, an d the reactivation of Zincore’s Accha Zinc Oxide District
(“AZOD”) Project.
Zincore intends for trading in the Company’s shares to remain halted until completion of
the Transaction. Further details of the Transaction and any related aspects will be made
available in subsequent press release s and in the disclosure documents (which will
include business and financial information in respect of MMTP) to be filed by Zincore in
connection with the Transaction. For further details on the Transaction, please see the
Company’s news releases dated Janu ary 21st, August 14 th and December 24 th of 2019
and March 12th and April 21, 2020.
About MMTP
MMTP, a company incorporated under the Companies Act (2006) (Isle of Man), is a young
and dynamic mining company with a vision to extract full value from undervalued projects
across Latin America. MMTP's primary asset is the Recuperada silver-lead-zinc property,
located in Huancavelica, Peru, which consists of 178 concessions covering a total of
11,261.32 hectares hosting a network of mineral -bearing veins, advanced infrastructure
from historical underground mining operations, and an ore processing plant with
processing capacity of 600 tonnes of ore per day and 210,000 tonnes of ore per year. For
more information on MMTP, please visit http://latitudebasemetals.com/
About Zincore
P R E S S R E L E A S E
SUITE 202, 5626 LARCH STREET, VANCOUVER, BC V6M 4E1 CANADA
T 604.669.6611 E [email protected] W www.zincoremetals.com
Zincore is a Vancouver-based mineral exploration company focused on zinc and related
base metal opportunities in Peru. The Company’s common shares trade on the NEX
Board of the TSX-V under the symbol ZNC.H.
For more information please contact:
Zincore Metals Inc.
Adam Ho, CFO, Director
(604) 669-6611
Cautionary Notes
Completion of the Transaction is subject to a number of conditions, including but not
limited to, TSX -V acceptance and if a pplicable, disinterested shareholder approval.
Where applicable, the Transaction cannot close until the required shareholder approval
is obtained. There can be no assurance that the Transaction will be completed as
proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular
or filing statement to be prepared in connection with the Transaction, any information
released or received with respect to the Transaction may not be accurate or complete
and should not be relied upon. Trading in the securities of Zincore should be considered
highly speculative.
The TSX-V has in no way passed upon the merits of the proposed Transaction and neither
approved nor disapproved the contents of this news release.
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 release.
Cautionary Note Regarding Forward Looking Information
This news release contains ce rtain forward -looking information within the meaning of
applicable Canadian securities legislation. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but not always, using
words or phrases such as “expects” or does not expect ”, “is expected”, anticipates” or
“does not anticipate” “plans”, “estimates” or “intends” or stating that certain actions, events
or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not
statements of historical fact and may be “forward-looking information ”. This forward-
looking information contained in this news release includes, without limitation, information
concerning the Transaction, the Financing, the Debt Settlement, expectations regarding
whether the Transaction will be consummated, including whether conditions to the
P R E S S R E L E A S E
SUITE 202, 5626 LARCH STREET, VANCOUVER, BC V6M 4E1 CANADA
T 604.669.6611 E [email protected] W www.zincoremetals.com
consummation of the Transaction will be satisfied, the timing for completing the
Transaction, expectations for the effects of the Transaction or the ability of the Resulting
Issuer to successfully achieve business objectives, expectations regarding whether the
Financing will be consumma ted, and expectations for other economic, business, and/or
competitive factors.
Forward-looking information is subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, performance or
achievements of Zincore to be materially different from those expressed or implied by
such information and statements. In addition, in connection with the forward -looking
information contained in this press release, Zincore has made certain assumptions.
Among the key factors that could cause actual results to differ materially from those
projected in the forward-looking information are the following: the ability to consummate
the Transaction and the Financing; the ability to obtain requisite regulatory and
securityholder approvals and the satisfaction of other conditions to the consummation of
the Transaction on the proposed terms and schedule; the ability to satisfy the conditions
to the consummation of the Financing; changes in general economic, business and
political conditions, including changes in the financial and commodities markets; changes
in applicable laws; compliance with government regulation; and the diversion of
management time on the Transaction and the Financing. Should one or more of these
risks, uncertainties or other factors materialize, or should assumptions underlying the
forward-looking information prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, believed, estimated or expected.
Although Zincore believes that the assumptions and factors used in preparing, a nd the
expectations contained in the forward-looking information are reasonable, undue reliance
should not be placed on such information, and no assurance or guarantee can be given
that such forward -looking information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such information.
Statements containing forward-looking information that are contained in this press release
are made as of the date of this press release, and Zincore assumes no o bligation to
update or revise any forward-looking information, except as required by law.