InZinc Mining Ltd. (TSXV:IZN) has closed a non-brokered private placement for proceeds of roughly $600,000. The placement was first announced on August 7 2014 and was increased on August 27.
As quoted in the press release:
The placement consisted of 3,333,400 units at a price of 18 cents per unit for proceeds of $600,012. Each unit consists of one common share and one-half of one common share purchase warrant. Each full warrant will entitle its holder to subscribe for one share at 30 cents per share for a period of 24 months from completion of the financing. No commission is payable, and proceeds from the placement will be used for general corporate purposes. The closing of the financing is subject to all regulatory approvals, including the approval of the TSX Venture Exchange. The securities issued in connection with the financing will bear a four-month restriction on resale from the completion date.