ZincX Resources Corp. has closed its non-brokered private placement, raising gross proceeds of $1,820,000 through the issuance of 15,166,667 units at $0.12 per unit. The financing is subject to final approval by the TSX Venture Exchange.

Each unit consists of one common share and one-half of one common share purchase warrant. A whole warrant allows the holder to buy an additional common share at $0.30 for 18 months. The company can accelerate the expiry date to 21 days after notice if the volume-weighted average trading price reaches $0.45 for 20 consecutive trading days after the statutory hold period expires on January 12, 2027. No finder’s fees were paid.

ZincX will direct the proceeds toward advancing its British Columbia mineral properties and working capital. The 100%-owned Akie property hosts the Cardiac Creek zinc-lead-silver deposit, where ZincX has drilled since 2005. The company also holds a 49% interest in the Pie, Yuen, and Cirque East properties, with Teck Resources and Korea Zinc holding the remaining 51%. Exploration geologist and San Cristobal Mining CEO Dr. Quinton Hennigh participated in the financing.

“Through my review, it became readily apparent that ZincX's properties easily have the potential to host large-scale SEDEX Zn-Pb-Ag deposits similar to those in the Yukon and NWT. But what really caught my attention is that, unlike its northern counterparts, the metallurgy of Cardiac Creek mineralization appears to be much more amenable to generating quality marketable base metal concentrates.”

— Dr. Quinton Hennigh, Exploration Geologist and CEO of San Cristobal Mining

Dr. Hennigh noted the growing strength of the zinc market and proximity to established regional deposits as key factors in his investment.

Read the full announcement: ZincX Resources Announces Closing Of Private Placement