KOOTENAY CLOSES FLOW-THROUGH PRIVATE PLACEMENT FOR $500,000
Vancouver, Canada, October 11, 2017 – Kootenay Zinc Corp. (the “Company”) (CSE:ZNK; OTCQB:KTNNF; FSE:KYH) is pleased to announce that they have closed a non-brokered flow-through private placement for up to 10,000,000 flow-through units for gross proceeds $500,000 at a price of $0.05 per flow through unit.
Each flow-through unit consists of one flow through share of the Company and one common share purchase warrant. Each whole warrant is convertible into one common share at a price of $0.10 per share and is exercisable for a period of one year.
The proceeds of the private placement will be used for the Company’s exploration activities.
About the Company
Kootenay Zinc Corp. is a mineral exploration and development company based in Vancouver, British Columbia that is presently targeting the Sully Property. The Company is focused on discovering large-scale sedimentary-exhalative (“SEDEX”) deposits.
The Sully Property comprises 1,375 hectares located approximately 30 kilometres east of Kimberley, B.C., and overlies rocks of similar age and origin as those which host the world-class Sullivan deposit, owned by Teck Resources Ltd. Sullivan was discovered in 1892, and is known to be one of the largest SEDEX deposits in the world. Over its 100-year lifetime, Sullivan produced approximately 150 million tonnes of ore, including approximately three hundred million ounces of silver, eight million tonnes of zinc and eight million tonnes of lead. The equivalent level of strata as at Sullivan and that formed on the margin of that same basin are present at the Sully Property. The Company cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Sully Property.
The scientific and technical information contained in this news release has been reviewed and approved by the Company’s Project Manager, Paul Ransom, P.Geo., a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
KOOTENAY ZINC CORP.