Slave Lake Zinc Corp. closes $650,000 Convertible Debenture Financing; Grants Stock Options
February 22, 2021 Trading Symbol - CSE: SLZ
Slave Lake Zinc Corp. closes $650,000 Convertible Debenture Financing; Grants Stock Options
Vancouver, B.C., February 22, 20 21: Slave Lake Zinc Corp. (CSE:SLZ) (“Slave Lake” or the
“Company”) Slave Lake is pleased to announce that it has closed a convertible debenture
financing in the principal amount of $650,000 (the “Debenture”) with an international investor
(the “Investor”). The Debenture will mature 18 months from the date of closing of the financing
and will bear interest at 5% per year. The proceeds of the financing will be used for exploration
of the Company’s O’Connor Lake property and for general working capital.
The principal amount of the Debenture is convertible into common shares of the Company at
$0.08 per share, which price is not lower than the closing price of the Company’s shares of
February 8, 2021 and for which price the Company requested and obtained confidential price
protection from the CSE on February 9, 2021. A total of 8,125,000 common share purchase
warrants (“Warrants”) have also been issued to the Investor. Each Warrant entitle s the holder
to purchase one additional common share of the Company at $0.15 per share for a period of 48
months from the date of issuance of the Warrants. All securities issued are subject to a statutory
four-month hold period and are so legended.
The Company also announces that it has granted stock options to a consultant of the Company.
The grant consists of 200,000 options with a $0.10 strike price, expiring two years from the date
of the grant.
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 Osisko Metals' 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 pot ential 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 numb er 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 uncertainties 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 materially from those cont ained 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 accurate or that managemen t'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.