International Zeolite Announces Private Placement up to $1.28 million
Vancouver, British Columbia, International Zeolite Corp. (the “Company”) (TSX.V:IZ) (OTCPINK: IZCFF) (FSE: ZEON) is pleased to announce a non-brokered private placement of up to 8,000,000 units at a price of $0.16 per unit for gross proceeds of up to $1,280,000 (the “Financing”).
Each unit will consist of one (1) common share and one half (1/2) non-transferable purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional common share at a price of $0.24 for a period of 12 months from the date of issue.
The financing is subject to regulatory approval and all securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws. The Company may pay finders’ fees consisting of 6% cash in connection with the financing, subject to compliance with the policy of the TSX Venture Exchange (the “TSXV”). Completion of the private placement and payment of any finders’ fees remain subject to the receipt of all necessary regulatory approvals, including approval of the TSXV.
The proceeds of the financing will be used for general working capital purposes.
On Behalf of the Board “Ray Paquette” President & CEO 604.684.3301
For further information, please visit www.internationalzeolite.com
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Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. International Zeolite does not assume the obligation to update any forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.