ScoZinc Completes $550,000 Non-Brokered Private Placement

ScoZinc Mining (TSXV:SZM) has completed a non-brokered private placement of $550,000, which consisted of 1.1 million units being sold at C$0.50 per piece.

As stated in the press release:

A unit consists of one common share and one half of a common share purchase warrant, with each full warrant exercisable at a price of $0.75 per common share for 24 months following the closing of the offering.

The offering is subject to the final approval of the TSXV. The securities issued pursuant to the offering are subject to a four month and one-day statutory hold period.

ScoZinc intends to use the net proceeds from the offering primarily to prepare for the restart of operations at its 100 percent owned ScoZinc mine in Nova Scotia, and for general working capital purposes.

Click here to read the full press release from ScoZinc Mining.