Zena Mining arranges $500,000 private placement

Executive Summary

• Zena Mining Corp. announced a non‑brokered private placement of up to 4,166,667 units at C$0.12 per unit, targeting gross proceeds of up to C$500,000.
• Each unit includes one common share and one non‑transferable warrant allowing the purchase of an additional share at C$0.16 for five years.
• The offering involves insider participation classified as a related‑party transaction but is exempt from valuation and minority‑shareholder approval requirements under MI 61‑101; securities will be subject to a four‑month hold period pending regulatory approval.

Key Details

• Units Offered: Up to 4,166,667 units
• Price per Unit: C$0.12 (12 cents)
• Total Gross Proceeds Target: Up to C$500,000
• Unit Composition: 1 common share + 1 non‑transferable common share purchase warrant
• Warrant Terms: Right to acquire one additional common share at C$0.16 per share; exercisable for five years from issuance date
• Insider Participation: Treated as a related‑party transaction under MI 61‑101; exempt because neither the securities’ fair market value nor consideration exceeds 25 % of market capitalization
• Regulatory Conditions: Subject to regulatory approval; all issued securities subject to a four‑month hold period under Canadian securities laws

Notable Quotes

(No quotes provided in the release.)