Zincore Announces Private Placement Financing
P RE S S RE LE AS E
ZINCORE ANNOUNCES PRIVATE PLACEMENT FINANCING
Not for distribution to U.S. news wire services or dissemination in the United States.
March 18, 2010
Vancouver, B.C. – Zincore Metals Inc. (ZNC-TSX) (“Zincore” or the “Company”) announces that it proposes to issue up to 2 million flow-through common shares to raise CDN$600,000 by way of a non-brokered private placement at $0.30 per share.
Gross proceeds from the sale of the private placement, which is subject to regulatory approval, will be used by Zincore for ongoing exploration and development programs in Canada, subject to flow through funding expenditure requirements. All flow through expenditures will be incurred by Zincore at its Cariboo zinc property near Quesnel, British Columbia.
A cash commission totaling 6% of gross proceeds from the sale of all flow through shares will be paid to Haywood Securities.
Any participation by insiders of the Company in the Offering, which participation will be subject to the approval of the independent directors of the Company, will be on the same terms as the arm’s length investors, and shareholdings of insiders in the Company will increase as a result of any such participation.
About Zincore
Zincore is a Vancouver-based mineral exploration company focused mainly on zinc and related base metal opportunities in the Americas, namely Peru, Mexico and Canada. The Company’s common shares trade on the TSX under the symbol ZNC.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward-looking Statements Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Annual Information Form of Zincore dated March 12, 2010 which is filed with Canadian securities regulatory authorities and available on SEDAR (www.sedar.com). Such information contained herein represents management's best judgment as of the date hereof based on information currently available. Zincore does not assume the obligation to update any forward-looking statements.
SUITE 1650, 701 WEST GEORGIA STREET, PO BOX 10102, VANCOUVER, BC V7Y 1C6 CANADA T 604.669.6611 F 604.669.6616 E [email protected] W www.zincoremetals.com For more information please contact:
Zincore Metals Inc.
Adam Ho, Manager, Investor Relations (604) 329-1009 [email protected]