Slave Lake Zinc Corp. Announces Shares for Debt Transactions
February 10, 2023 Trading Symbol - CSE: SLZ
Slave Lake Zinc Corp. Announces Shares for Debt Transactions
Vancouver, B.C., February 10 , 20 23: Slave Lake Zinc Corp. (CSE:SLZ) (“Slave Lake” or the
“Company”) is pleased to announce that the Company has issued an aggregate of 2,617,710
common shares ("Debt Shares") to certain of its directors and the Company’s chief financial
officer (the “Creditors”) in exchange for the cancellation of the aggregate of $261,771 of fees and
expenses owing. The Debt Shares are being issued at $0.10 per Debt Share, which is above the
closing market price of the common shares of the Company as listed on the Canadian Securi ties
Exchange ("CSE") on February 9, 2023, being $0.095, in accordance with the policies of the CSE.
The issuance of the Debt Shares to the Creditors constitutes a "related party transaction" as this
term is defined in Multilateral Instrument 61 -101: Prot ection of Minority Securityholders in
Special Transactions ("MI 61 -101"). The Company intends to rely on the exemptions from the
formal valuation and minority shareholder approval requirements of MI 61 -101 contained in
sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the Debt Shares nor
the aggregate debt exceeds 25% of the Company's market capitalization.
About Slave Lake Zinc
Slave Lake Zinc Corp. intends to develop the potential of its O'Connor Lake property, an historic
zinc lead copper property located in the Northwest Territories of Canada. The property is
located south of Great Slave Lake and to the east of Pine Point project. The property was
initially developed after the Second World War and subsequently abandoned in 1952 when the
prices of zinc and lead collapsed post war. Slave Lake Zinc Corp. believes that it is well
positioned to advance this project and to expand significantly the historic potential of the
property. For more information, please visit www.zinccorp.ca.
On Behalf of the Board of Directors,
Slave Lake Zinc Corp.
Per:
Ritch Wigham CEO & Director
Phone: 604-396-5762
Email: [email protected]
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or
accepted responsibility for the adequacy or accuracy of the content of this news release
Forward Looking Statement
Statements in this news release that are forward -looking statements are subject to various risks
and uncertainties concerning the specific factors disclosed here and elsewhere in both Slave Lake
Zinc’s periodic filings with Canadian securities regulators. When used in this news release, words
such as "will", "plan", "estimate", "expect", "intend", "potential", "should," and similar
expressions, are forward-looking statements. Information provided in this document is necessarily
summarized and may not contain all available material information. Forward-looking statements
include, without limitation, potential development and production at the Company’s O’Connor
Lake project, future oriented events and other statements that are not facts. Forward -looking
statements are based on a number of assumptions and estimates that, while considered
reasonable by management based on the business and markets in which Slave Lake Zinc operates,
are inherently subject to significant operational, economic and competitive uncert ainties and
contingencies. Such forward -looking statements should therefore be construed in light of such
factors. Although Slave Lake Zinc has attempted to identify important factors that could cause
actual results, performance or achievements to differ m aterially from those contained in the
forward-looking statements, there can be other factors that cause results, performance or
achievements not to be as anticipated, estimated or intended. There can be no assurance that
such information will prove to be a ccurate or that management's expectations or estimates of
future developments, circumstances or results will materialize. Accordingly, readers should not
place undue reliance on forward-looking statements. The forward-looking statements in this news
release are made as of the date of this news release, and Slave Lake Zinc disclaims any intention
or obligation to update or revise such information, except as required by applicable law, and Slave
Lake Zinc does not assume any liability for disclosure relating to any other company herein.