Canadian Zinc to raise $32.5 mln in financing from RCF
U.S. mining private equity firm Resource Capital Funds (RCF) has agreed to acquire 100 million shares of Canadian Zinc Corp (TSX: CZN), a Vancouver-based mining company, generating proceeds of $20 million. RCF will also be issued 50 million warrants, generating an additional $12.5 million. Canadian Zinc said the proceeds will be used to repay a bridge loan and develop its Prairie Creek zinc-lead-silver project in the Northwest Territories, among other priorities. RCF's interest in Canadian Zinc will grow to as much as 48.5 percent as a result of the deal. The company also announced the appointment of Don MacDonald as president and eventually CEO.
15 May 2018•6 mins read
