Canadian Zinc Completes Corporate Reorganisation

Canadian Zinc (TSX:CZN) has announced that the statutory arrangement to reorganize the company structure, which was approved by the majority of the company’s shareholders at the annual general and special meeting held on June 27, 2018, has become effective today.

The company will change its name to NorZinc, and will trading on the Toronto Stock Exchange under the new ticker symbol NZC on September 11, 2018.

As quoted in the press release:

The arrangement reorganizes the company into a separate publicly-listed holding corporation, named NorZinc Ltd., and a directly held, wholly-owned, operating subsidiary retaining the name Canadian Zinc Corporation. The change was undertaken to facilitate future project financing of the Prairie Creek project. The arrangement leaves all the Prairie Creek property (Northwest Territories), assets, agreements and permits in place in the wholly-owned subsidiary.

With the reorganization completed, all the shares of Canadian Zinc will be exchanged for shares of NorZinc, on a one-for-one basis, with no impact on shareholder’s ultimate economic interest.

Click here to read the full Canadian Zinc (TSX:CZN), soon to be NorZinc (TSX:NZC) press release.