Canada Zinc Metals Corp. (MTSZF.OB) Closes Non-Brokered $4.9 Million Private Placement
Canada Zinc Metals Corp. announced this morning that it has received final approvals from the TSX Venture Exchange and relevant Chinese authorities concerning the closing of the non-brokered private placement subscribed to by Tongling Nonferrous Metals Group Holdings Co. Ltd. Tongling has purchased 11,500,000 units of Canada Zinc Metals at a price of $0.425 per unit for gross proceeds of $4,887,500 and now holds a 13% equity position in the company. Each unit consists of one common share and one half of a common share purchase warrant. Each whole warrant entitles Tongling to purchase one common share of the Company…