IZN News 2019-03 1.604.687.7211
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IZN News 2019-03
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
May 29, 2019 News Release 2019-03
InZinc Announces Closing of $275,000 Private Placement
(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. (TSX-V: IZN) (the “Company”) announces it has closed a non-brokered private
placement (the “Financing”) for gross proceeds of $275,000. The Financing, announced May 16, 2019, consists of
5,500,000 units (the “ Units”) at a price of $0.05 per Unit. Each Unit consisted of one common share (a “ Common
Share”) of the Company and one -half of one common share purchase warrant ( each whole share purchase warrant,
a “Warrant”). Each full Warrant entitles its holder to acquire one Common Share at an exercise price of $0.10 for a
period of 24 months from closing of the Financing. The Company can accelerate the expiry date of the Warrants at any
time following four months after the closing date by giving notice to the holder if the Common Shares trade at or above
$0.20 for 10 consecutive trading days at which time the W arrants will expire on the 30 th day after the date on which
such notice was given.
Dundee Goodman Merchant Partners, an arm’s length party to the Company (the “ Finder”), acted as the finder in
connection with the Financing. The Company paid the Finder a fee of 6% in cash and 6% in Warrants (the “ Finder’s
Warrants”). Each Finder’s Warrant entitles the Finder to acquire one Common Share at an exercise price of $0.05 for
a period of 24 months.
The net proceeds from the Financing will be used to expand programs at the Company’s Indy exploration project in
BC, where near-surface mineralization was discovered in 2018 and new, large exploration targets are emerging and
general corporate purposes.
The securities issued in connection with the Financing are subject to a four-month hold period from the date of closing
in accordance with applicable securities legislation.
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 completed in 2014 forecasted 1.6 billion pounds of zinc production over 15 years. Byproducts
would include copper, magnetite and indium, the latter being identified by the United States in 2017 as a critical mineral.
Indy comprises near surface discoveries, large untested exploration targets and regional discovery potential. Both zinc
projects are well located with easy access and existing infrastructure.
InZinc Mining Ltd.
Wayne Hubert
_____________________________
Chief Executive Officer For further information contact:
Phone: 604.687.7211 Joyce Musial
Website: www.inzincmining.com Vice President, Corporate Affairs
Phone: 604.317.2728
Email: [email protected]
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IZN News 2019-03
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 th an statements of historical fact,
included herein including, without limitation, statements regarding the Company’s next shareholder meeting. 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, po stulate
and similar expressions, or are those, which, by their nature, refer to future events. T he 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 Discussion and Analysis for the year ended December
31, 2018 filed with certain securities commissions in Canada and other information rele ased 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.