Zena Mining amends $500,000 private placement

Executive Summary

• Zena Mining Corp. amended its previously announced non‑brokered private placement, increasing the offering to up to 3,333,334 units at C$0.15 per unit for total gross proceeds of up to C$500,000.
• Each unit includes one common share and one non‑transferable warrant allowing purchase of an additional share at C$0.20 within one year.
• The proceeds are earmarked for unallocated working capital; the offering is subject to regulatory approval and a four‑month hold period.

Key Details

• Amended Offering Size: Up to 3,333,334 units (previous terms revised).
• Price per Unit: C$0.15, representing an aggregate gross proceeds potential of C$500,000.
• Unit Composition: One common share + one non‑transferable common share purchase warrant.
• Warrant Terms: Right to acquire one additional common share at C$0.20 per share; exercisable for one year from issuance date.
• Use of Proceeds: Unallocated working capital.
• Related Party Transaction: Insiders’ participation qualifies as a related‑party transaction under MI 61‑101 but is exempt from formal valuation and minority shareholder approval because neither the fair market value nor consideration exceeds 25 % of market capitalization.
• Regulatory Conditions: Offering subject to regulatory approval; securities issued will be subject to a four‑month hold period under Canadian securities laws.

Notable Quotes

(No executive quotes were provided in the release.)