IZN News 2017-10 1.604.687.7211
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IZN News 2017-10
1.604.687.7211
inzincmining.com
TSX-V: IZN
InZinc Mining Ltd.
912 – 1112 West Pender Street
P.O. Box 48268, Station Bentall Centre
Vancouver, BC Canada V7X 1A2
December 21, 2017 News Release 2017-10
InZinc Announces Closing of Private Placement for Total Gross Proceeds of $3.5 Million
(All Dollars in Canadian Dollars)
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.
Vancouver, BC – InZinc Mining Ltd. (TSXV: IZN) (the “Company”) is pleased to announce it has closed the second
tranche of its previously announced non-brokered private placement (the “Offering”) for additional gross proceeds of
$350,000. As announced in its previous news release dated December 15, 2017, the Company closed the first tranche
of the Offering and raised gross proceeds of $3,148,000, bringing the total raised in both tranches to $3,498,000.
“Completion of the financing is a positive sign of the support the Company and its projects have from its shareholders
and the investment communit y,” stated Wayne Hubert, CEO of InZinc. “With a strong balance sheet, we are ready to
move forward exploring and developing our zinc projects in 2018."
Pursuant to the second tranche of the Offering, the Company issued a total of 3,500,000 units (the "Units") (for a total
of 34,980,000 Units in both tranches ) at a price of $0.10 per Unit , e ach Unit consist ing of one common share (a
“Common Share”) of the Company and one -half of one common share purchase warrant (a “ Warrant”). Each full
Warrant will entitle its holder to acquire one Common Share at an exercise price of $0.15 for a period of 24 months
from the date of issuance of the Warrant.
All securities issued in connection with the second tranche of the Offering are subject to a statutory four -month hold
period expiring on April 21, 2018.
The Company paid finder’s fees in cash of $37,450 (for a total of $182,560 in both tranches) and issued common share
purchase warrants (“Finder’s Warrants”) to purchase up to 388,500 Common Shares (for a total of 1,825,600 in both
tranches), such Finder’s Warrants having the same terms as the Warrants.
As disclosed in the Company’s prev ious news release dated December 15, 2017, certain directors and officers of the
Company participated in the Offering for $200,000.
The net proceeds from the Financing will be used for advancement of the Company’s exploration projects and for
general corporate purposes.
Grant of Stock Options
InZinc announces the grant of incentive stock options to certain directors, an officer and key project consultants to
purchase a total of 1,300,000 common shares of the Company for a period of three (3) years at a n exercise price of
$0.13 per share effective December 20, 2017. These stock options will vest over the next 12 months.
About InZinc
InZinc is focused on growth in zinc through exploration and expansion of the advanced stage West Desert project
(100%) in Utah and exploration of the early stage Indy project (100% option) in British Columbia. West Desert has a
large underground resource open for expansion and has district scale exploration potential. A West Desert preliminary
economic assessment complete d in 2014 forecasted 1.6 billion pounds of zinc production over 15 years. I ndy
comprises both near surface exploration targets and regional discovery potential . Both zinc projects are well located
with easy access and existing infrastructure.
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IZN News 2017-10
InZinc Mining Ltd.
"Wayne Hubert”
___________________
Wayne Hubert For further information contact:
CEO and Director Joyce Musial
Phone: 604.687.7211 Vice President, Corporate Affairs
Phone: 604.317.2728
Website: www.inzincmining.com Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”)
within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact,
included herein. Although the Company believes that such statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward -looking statements are typically identified by words such as: believe, expect,
anticipate, intend, estimate, plan, design, postulate and similar expressions, or are those, which, by their nature, refer to future
events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results,
performance, or actions and that actual results and actions may differ materially from those in forward-looking statements as a result
of various factors, including, but not limited to, those risks and uncertainties disclosed in the Company’s Management Di scussion
and Analysis for the year ended December 31, 201 6 filed with certain securities commissions in Canada and other information
released by the Company and filed with the appropriate regulatory agencies. All of the Company's Canadian public disclosure filings
may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with
respect to the Company's mineral properties.
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.