https://www.engineeringnews.co.za

Zinc One to raise up to C$2.44-million in rights offer

5th July 2019

By: Nadine James

Features Managing Editor

     

Font size: - +

TSX-V-listed Zinc One Resources will proceed with a rights offer to raise between C$1.22-million and C$2.44-million.

The company will offer rights to holders of its common shares, as from the close of business on July 8, on the basis of one right for each common share held.

Each right will entitle the holder to subscribe for one share of the company on the payment of a subscription price of $0.02 a share.

The rights offer will expire at 14:00 on August 7. 

The rights offer will also include an additional subscription privilege under which eligible holders of the rights, who fully exercise their rights, will be entitled to subscribe, on a pro rata basis with other shareholders who participate in the oversubscription, for common shares that have not been bought under the rights offer.


The net proceeds of the offering will be used to repay corporate indebtedness, reduce trade payables, incurring $200 000 for geological, resource modelling and technical studies on the Bongará project, in Peru, and for general working capital.



Meanwhile, Zinc One also reported that it had satisfied its yearly maintenance payments on the Bongará zinc mine project and the Charlotte-Bongará zinc project. 

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Monitor Distributors
Monitor Distributors

We at Hawk High Pressure Pumps specialise in industrial pumps and pumping systems. Our high pressure washing equipment is locally manufactured and...

VISIT SHOWROOM 
The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.054 1.237s - 140pq - 2rq
Subscribe Now