Canadian Zinc Announces Filing of Final Prospectus for $9 Million Financing

Canadian Zinc Corporation (TSX:CZN) has filed a final short form prospectus in BC, Alberta, Saskatchewan, Manitoba, Ontario and New Brunswick and also obtained a receipt from the BC Securities Commission.
As quoted in the press release:

The Prospectus qualifies the distribution of 32,000,000 common shares of the Company (the “Common Shares”) at a price of C$0.25 per Common Share and 4,000,000 flow-through common shares of the Company (the “Flow-Through Shares”) at a price of C$0.25 per Flow-Through Share, for aggregate gross proceeds of C$9,000,000 (the “Offering”). The Company has entered into an amended and restated underwriting agreement with Paradigm Capital Inc., Canaccord Genuity Corp. and Dundee Securities Ltd. (collectively, the “Underwriters”) to reflect an increase in the size of its previously announced public offering from C$8,000,000 to C$9,000,000.
As previously announced, the Company has granted the Underwriters an over-allotment option to purchase up to 4,800,000 common shares in any combination of Common Shares and Flow-Through Shares for C$0.25 per share, exercisable, in whole or in part, at any time up to 30 days after the closing date of the Offering for additional gross proceeds of up to C$1,200,000.
The net proceeds from the sale of Common Shares will be used to fund feasibility and development programs for the Prairie Creek Project, exploration programs at both the Prairie Creek Project and the Company’s Newfoundland properties, as well as for general working capital purposes.

Click here to read the full press release.