ZincX Resources Corp. has launched a non-brokered private placement aiming to raise up to $1.82 million in gross proceeds to support exploration work across its mineral properties in British Columbia.

The financing involves the issuance of up to 15,166,667 units priced at $0.12 per unit. Each unit comprises one common share and one-half of one common share purchase warrant. Every whole warrant entitles the holder to buy an additional common share at a price of $0.30 at any time within 18 months of the closing date.

The warrants are subject to an accelerated expiry provision. If the volume-weighted average trading price of the common shares reaches at least $0.45 on the TSX Venture Exchange for 20 consecutive trading days after the initial four-month hold period elapses, the company can shorten the warrant expiry to a date not less than 21 days after issuing notice to holders.

Gross proceeds from the placement will be directed toward advancing the Akie and Kechika Regional projects, alongside general working capital needs. The Akie property, located within the Kechika trough of the Paleozoic Selwyn basin, hosts the Cardiac Creek deposit, a significant body of baritic-zinc-lead sedimentary exhalative mineralization. The Kechika Regional project spans a large contiguous block of the southern trough, including the Mount Alcock prospect and properties held in partnership with Teck Resources Ltd. and Korea Zinc Co. Ltd.

The private placement is contingent on formal approval from the TSX Venture Exchange. All securities issued under the offering will be subject to a statutory four-month hold period from the closing date.

The capital raise builds on recent administrative and operational steps taken by the company to maintain its exploration pipeline. In April, ZincX secured a renewal of its surface drilling permit for the Akie property from the Ministry of Energy, Mines and Low Carbon Innovation, extending authorized exploration activities through December 31, 2028. The permit covers a large exploration area across key thrust panels containing the Gunsteel Formation, the primary host rock for local zinc-lead-silver deposits.

Read the full announcement: Zincx Resources Announces Private Placement