Zinccorp arranges $1.7-million private placement

2009-12-21 10:18 ET - News Release

An anonymous director reports

ZINCCORP RESOURCES INC: PRIVATE PLACEMENT

Zinccorp Resources Inc. has arranged for a private placement of up to 20 million units for total proceeds of up to $1.7-million. The financing will consist of flow-through or non-flow-through units priced at 8.5 cents. Each of the flow-through units will consist of one flow-through common share and one non-flow-through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for two years at a price of 10 cents per share. Each of the non-flow-through units will consist of one non-flow-through common share and one non-flow-through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for five years at a price of 10 cents per share in years one and two, 15 cents per share in year three and 20 cents per share in years four and five. In accordance with exchange policies, finders' fees may be paid on the funds raised. The private placement is subject to regulatory approval

Ken