Zincore Completes Shares FOR Debt Transaction
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 COMPLETES SHARES FOR DEBT TRANSACTION
Vancouver, B.C. May 17, 2017 – Zincore Metals Inc. (NEX: ZNC.H) (“Zincore” or the “Company”) reports that it has
completed the shares for debt transaction originally announced on May 5, 2017 (the “Shares for Debt Transaction”),
after receiving the approval of the TSX Venture Exchange (“ TSXV”) to settle indebtedness with certain creditors of
the Company and the Company's Peruvian subsidiary, Exploraciones Collasuyo SAC.
Pursuant to the Shares for Debt Transaction, the Company has issued 5,431,910 common shares of the Company
(the “Shares”) at a deemed price of $0.195 per Share to settle debt in the amount of $1,059,222.
All securities issued in connection with the Shares for Debt Transaction are subject to a statutory hold period of four
months plus a day from the date of issuance in accordance with applicable securities law legislation.
Pursuant to Multilateral Instrument 61 -101 – Protection of Minority Security Holders in Special Transactions ("MI 61 -
101") and TSX Venture Exchange Policy 5.8, a portion of the shares for debt transaction constitutes a "related party
transactions". The Company is relying on exemptions from the formal valuation and minority approval requirements of
MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101.
Jorge Benavides acquired ownership of 2,045,027 Shares pursuant to the Shares for Debt Transaction. Mr .
Benavides now holds or exercises control or direction over a total of 2,508,789 Shares representing approximately
13.89% of the current issued and outstanding Shares of the Company and 127,667 options for the purchase of an
additional 127,667 Shares of the Company. Should Mr. Benavides exercise all of his 127,667 options, he would hold
or exercise control or direction over approximately 14.49% of the then issued and outstanding Shares. Mr.
Benavides acquired the 2,045,027 Shares as settlement of $ 398,780.26 of indebtedness owed by the Company and
may, depending on market circumstances, acquire additional securities or dispose of existing securities of the
Company.
A copy of the Early Warning Report for Mr. Benavides will be available on SEDAR.
About Zincore
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 Venture Exchange under the symbol
ZNC.H. For more information, please see our website at www.zincoremetals.com
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.
For more information please contact:
Zincore Metals Inc.
Adam Ho, CFO & VP, Corporate Development
(604) 669-6611
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