The bridge loan is expected to be followed by the completion of a rights offering of at least a further US$4 million within 150 days.
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Toronto-listed NorZinc has signed a US$6 million secured loan agreement with shareholder Resource Capital Funds (RCF) to fund this year’s work program at the zinc-lead-silver Prairie Creek project in the Northwest Territories, Canada.
The bridge loan is expected to be followed by the completion of a rights offering of at least a further US$4 million within 150 days.
NorZinc shares gained 20% or C$0.005 to C$0.
The transaction with major shareholder RCF is aimed at addressing debt and capital funding needs
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