Zincore Announces Private Placement Financing
P R E S S R E L E AS E
ZINCORE ANNOUNCES PRIVATE PLACEMENT FINANCING
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Vancouver, B.C. June 28, 2010 – Zincore Metals Inc. (ZNC-TSX) (“Zincore” or the “Company”) announces that it proposes to complete a non-brokered private placement to raise proceeds of up to C$3.0 million (the “Offering”). The Offering will be by way of common share units. Units will be priced at C$0.35, with each unit being comprised of one common share and one-half common share purchase warrant. The warrants will be non-transferable and each whole share purchase warrant will entitle the holder to purchase a common share at C$0.45 for up to two years. Net proceeds from the sale of the Offering, which is subject to the approval of the Toronto Stock Exchange, will be used to pursue in-fill drilling at the Company’s Accha and Yanque Projects in southern Peru, as well as further exploration at Zincore’s other prospects. The Offering is expected to close during the week of July 5, 2010.
Any participation by insiders of the Company in the Offering, which participation will be subject to the approval of the independent directors of the Company, will be on the same terms as the arm’s length investors, and shareholdings of insiders in the Company will increase as a result of any such participation.
About Zincore
Zincore is a Vancouver-based mineral exploration company focused mainly on zinc and related base metal opportunities in the Americas, namely Peru, Mexico and Canada. The Company’s common shares trade on both the Toronto and Lima Stock Exchanges under the symbol ZNC. For more information, please see our website at www.zincoremetals.com
Forward-looking Statements Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Annual Information Form of Zincore dated March 12, 2010 which is filed with Canadian securities regulatory authorities and available on SEDAR (www.sedar.com). Such information contained herein represents management's best judgment as of the date hereof based on information currently available.
For more information please contact:
Zincore Metals Inc.
Adam Ho, Manager, Investor Relations (604) 329-1009 [email protected]
SUITE 1650, 701 WEST GEORGIA STREET, PO BOX 10102, VANCOUVER, BC V7Y 1C6 CANADA T 604.669.6611 F 604.669.6616 E [email protected] W www.zincoremetals.com