Zincore Negotiates a Second Agreement to Further Reduce Working Capital Deficit
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 NEGOTIATES A SECOND AGREEMENT TO
FURTHER REDUCE WORKING CAPITAL DEFICIT
Vancouver, B.C. December 22, 2017 – Zincore Metals Inc. (NEX: ZNC.H ) (“Zincore” or the “ Company”) reports
that its Peruvian subsidiary, Exploraciones Collasuyo S.A.C., (“ Collasuyo”) has entered into an agreement (the
“Creditor Agreement”) with a creditor of the Company to turn a current payable amount owing of US$287,792.02 into
a long term debt obligation. This Creditor Agreement is subsequent to , and in addition to similar agreement s
announced by the Company on December 14, 2017, whereby the Company entered into agreements totalling
US$272,125.29 with the Company’s CEO, Jorge Benavides, to turn current amounts owing and other payables into
long term debt obligations.
Adam Ho, CFO, commented, “ One of our main goals is to move our exchange listing from the NEX Exchange to the
TSX-V, where we believe we may have better visibility and liquidity for investors seeking to invest in our shares as a
junior zinc exploration company. To that end, we have made tremendous progress in 2017 in restructuring our debts
to reduce our working capital deficit and move closer to meeting the TSX-V listing requirements”.
Zincore President and CEO, Jorge Benavides further commented, “Right now there is a great deal of investor interest
in zinc companies , which we believe is driven by strong fundamentals for the underlying zinc market over the next
few years. Given our firm belief in these fundamentals, we have held onto the key claims which make up our Accha
Zinc Oxide District Project in southern Peru at all costs and look to take advantage of market sentiment to deliver
value to our shareholders in 2018”.
According to the Creditor Agreement, the new long term obligation (the “Obligation”) will mature and become due and
payable 20-months after Zincore completes a financing for a minimum of C$600,000. The Obligation will be subject to
an interest rate of 12 -month LIBOR, with the principal and applicable interest due at maturity. The Obligation wil l be
guaranteed by Zincore. In the event that the Company is unable to pay the Obligation when it is due, it will be subject
to an additional 2% annualized penalty.
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.
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
(604) 669-6611
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