Zincore Metals Announces Private Placement

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Vancouver, British Columbia--(Newsfile Corp. - January 16, 2023) - Zincore Metals Inc. (TSXV: ZNC.H) (the "Company") is pleased to announce a non-brokered private placement of up to 19,000,000 units of the Company (the "Units") at a price of $0.01 per Unit for aggregate gross proceeds of up to $190,000 (the "Offering"). Each Unit will consist of one common share of the Company (each, a "Share") and one common share purchase warrant (each, a Warrant). Each Warrant will entitle the holder thereof to acquire one Share (each, a "Warrant Share") at an exercise price of $0.05 per Warrant Share for a period of three years from the closing date (the "Closing Date"). The exercise of the Warrants will be eligible for flow-through tax treatment, subject to certain conditions.

The Offering is expected to close by the end of January 2023 and is subject to satisfaction of customary closing conditions, including, but not limited to, the approval of the TSX Venture Exchange and receipt of all necessary corporate and regulatory approvals. The Company intends to use the proceeds from the Offering for general working capital and payment of accounts payable. No proceeds of the Offering are proposed to be paid to any non-arm's length parties or for investor relations activities. Finders fees may be payable in connection with the Offering.

All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the Closing Date in accordance with applicable securities legislation.

The securities of the Company referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Zincore

Zincore is a Vancouver-based Company, with common shares which trade on the NEX Board of the TSX Venture Exchange under the symbol ZNC.H.


"Maggie Wong"
Maggie Wong
Chief Financial Officer

For further information, please contact:

Zincore Metals Inc.
Maggie Wong, Chief Financial Officer
(604) 669-6611
[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements

This news release contains certain "forward-looking statements" within the meaning of applicable securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends" or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be considered forward-looking statements. Examples of forward-looking statements in this news release include the completion of the Offering, the obtainment of approval from the TSX Venture Exchange and the intended use of proceeds of the Offering. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.


To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151508

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