Slave Lake completes exploration at O'Connor Lake

Executive Summary

• Slave Lake Zinc Corp. announced the successful completion of its initial exploration field program at the O'Connor Lake property.
• The company settled a $117,000 loan from three directors by issuing 2.34 million units (each unit = 1 common share + 1 warrant) at C$0.05 per unit.
• All issued securities are subject to a statutory hold period until February 10 2026.

Key Details

• Exploration fieldwork: The field crew mobilized to re‑evaluate historic mineralized targets with modern technology; results will be compiled and interpreted for future drill target definition.
• Loan settlement: $117,000 loan from three directors converted into equity via a shares‑for‑debt transaction.
• Units issued: 2.34 million units at C$0.05 per unit (total gross consideration ≈ C$117,000).
• Unit composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant terms: Warrants allow the holder to purchase an additional share at C$0.07 for three years from issuance.
• Related‑party transaction: Treated as a related‑party transaction under MI 61‑101; exempt from formal valuation and minority approval because the issue represents <25 % of market cap.
• Board approval: Transaction approved by the board of directors.
• Statutory hold period: All securities issued are subject to a hold period expiring on 2026‑02‑10.

Notable Quotes

(No direct quotes were provided in the release.)