ZincX Resources Announces Closing Of Private Placement
Zincx secures strategic zinc financing for the Cardiac Creek deposit, validating the project amid a going concern backdrop.
Zincx Resources Corp. (ZNX) closed a non-brokered private placement on September 11, 2026, raising gross proceeds of $1,820,000. The company issued 15,166,667 units at $0.12 per unit, with each unit containing one common share and one-half of one common share purchase warrant.
The proceeds are allocated to advancing the Akie and Kechika Regional projects in British Columbia and for general working capital. The transaction includes warrants exercisable at $0.30 per share for 18 months, with an acceleration clause if the VWAP reaches $0.45 for 20 consecutive days. Notable participant Dr. Quinton Hennigh, CEO of San Cristobal Mining, invested in the round.
The closing follows the August 31, 2026 announcement of the same financing and comes shortly after the July 16, 2026 exercise of the Kechika North option, which brought in a $1,000,000 cash payment.
Zincx Resources Corp. (ZNX) reported a going concern flag and a working capital deficit of $928,712 as of March 31, 2026, with only $449,646 in cash on hand. The $1.82M injection directly addresses immediate liquidity constraints and provides essential runway for near-term exploration and permitting activities.
Participation by Dr. Quinton Hennigh, CEO of San Cristobal Mining, serves as a strong third-party validation of the Cardiac Creek deposit's metallurgical profile and district potential. His comments highlight the favorable metallurgy and long-term district development thesis.
The financing occurred at $0.12 per unit, significantly below the recent trading range of $0.18-$0.25. This represents approximately 7.5% dilution on a basic basis, with additional warrant dilution. The discount is typical for private placements but underscores the company's reliance on equity markets.
Zincx Resources Corp. is a junior exploration and development company focused on zinc-lead-silver deposits in British Columbia, Canada. Its flagship asset is the 100%-owned Akie Property, which spans 11,580 hectares and hosts the Cardiac Creek SEDEX-style deposit.
The company’s 2018 Mineral Resource estimate defined 22.7 million tonnes of Indicated resources grading 8.32% Zn, 1.61% Pb, and 14.1 g/t Ag, alongside 7.5 million tonnes of Inferred resources grading 7.04% Zn, 1.24% Pb, and 12.0 g/t Ag. A 2018 Preliminary Economic Assessment outlined an 18-year mine life for a 4,000 tpd underground operation, projecting a $649 million pre-tax NPV at a 7% discount rate, a 35% pre-tax IRR, and $102.4 per tonne in all-in OPEX.
The Kechika Regional Project comprises a district-scale land package extending approximately 85 km northwest from Akie, covering the Gunsteel Formation. This package includes the 100%-owned Mount Alcock property and a 49% interest in the Pie, Yuen, and Cirque East properties, which are partnered with Teck Resources and Korea Zinc.