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    Canadian Zinc Reports Financial Results for Second Quarter of 2016

    Jocelyn Aspa
    Aug. 12, 2016 08:34AM PST
    Base Metals Investing

    Canadian Zinc (TSX:CZN) has reported its interim financial results and development activities for the three and six month periods ending June 30, 2016. As quoted in the press release: Financial Results for Second Quarter of 2016 For the three and six month periods ended June 30, 2016, the Company reported a net loss and comprehensive …

    Canadian Zinc (TSX:CZN) has reported its interim financial results and development activities for the three and six month periods ending June 30, 2016.
    As quoted in the press release:

    Financial Results for Second Quarter of 2016
    For the three and six month periods ended June 30, 2016, the Company reported a net loss and comprehensive loss of $866,000 and$1,643,000, respectively, compared to a net loss and comprehensive loss of $2,613,000 and $6,435,000 for the same periods endedJune 30, 2015.
    For the three and six month periods ended June 30, 2016, the Company expensed $385,000 and $693,000, respectively, on its exploration and evaluation programs at Prairie Creek, compared to $2,039,000 and $5,727,000, respectively, for the three and six month periods ended June 30, 2015. For the six month period ended June 30, 2016, the Company also expensed $111,000 on its exploration and evaluation properties in central Newfoundland compared to $148,000 for the comparative period in 2015.
    Underwritten Public Offering of $10.2 Million Completed
    On July 7, 2016, the Company closed an underwritten public offering of common shares and flow-through shares through a syndicate of underwriters co-led by Paradigm Capital Inc. and Canaccord Genuity Corp. and including Dundee Securities Ltd..
    The Company issued 34,135,000 common shares at a price of $0.25 per Common Share for gross proceeds of $8,533,750 and 6,665,000 flow-through shares at a price of $0.25 per Flow-Through Share for gross proceeds of $1,666,250. In total, the gross proceeds of the Offering amount to $10,200,000.

    Click here to read the full press release.

    canadian zincdundee securitiesfinancial resultstsx:cznparadigm capitalpublic offering
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