Zincore Announces Private Placement Financing

Zincore Metals Inc. (TSX:ZNC) reported that the company 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.

The press release is quoted as saying:

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.

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