Toronto-based Nevada Zinc Corporation (TSX-Venture: NZN) obtained a helping hand Tuesday. The junior miner announced the closing of a financing with InCoR Holdings Ltd. The financing is being done at a premium of 78% above yesterday’s closing price of the company’s shares, and was completed at $0.08 cents per Share for proceeds of $100,000.
The proceeds will be used for general purposes and the advancement of the Company’s Lone Mountain Zinc Project in east Central Nevada.
According to CEO Bruce Durham, “InCoR has been a significant shareholder of Nevada Zinc for more than a year now and to have them now control more than 10% of the Company is a reflection of their continuing confidence in the Lone Mountain Project and the Company’s management team.”
Shares galloped half a cent, or 11.1%, to five cents, with volume momentum building at 63,000 shares.
