April 16th, 2018 – Vancouver, British Columbia, Canada: Eastern Zinc Corp. (the “Company” or “Eastern Zinc”) (TSX-V: EZNC.H) is pleased to announce that it has completed a non-brokered private placement (the “Private Placement”) of 6,666,667 units (the Units”) of the Company at a price of $0.165 per Unit for gross proceeds of $1,100,000 (the “Offering”). Each Unit consists of one (1) common share (the “Common Share”) and one (1) transferable common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one (1) additional Common Share of the Company for a period of 1 year from closing at a price of $0.22 per common share. The securities issued pursuant to the Offering are subject to a four (4) month hold period that expires on August 18th, 2018.
Finders fees of 8% cash ($88,000) and 8% finders warrants (533,333 finders warrants) will be paid to two arm’s length finders in connection with this Offering.
The proceeds of the Offering are planned to be used by Eastern Zinc for general ongoing working capital and corporate purposes.
On behalf of:
Eastern Zinc Corp.
Michael Dake, President
This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.
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.