Vancouver, British Columbia--(Newsfile Corp. - October 1, 2021) - International Zeolite Corp. (TSXV: IZ) (OTC Pink: IZCFF) (FSE: ZEON) (the "Company") is pleased to announce a non-brokered private placement of up to 8,000,000 units at a price of $0.16 per unit for gross proceeds of up to $1,280,000 (the "Financing").
Each unit will consist of one (1) common share and one half (1/2) non-transferable purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share at a price of $0.24 for a period of 12 months from the date of issue.
The financing is subject to regulatory approval and all securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws. The Company may pay finders' fees consisting of 6% cash in connection with the financing, subject to compliance with the policy of the TSX Venture Exchange (the "TSXV"). Completion of the private placement and payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including approval of the TSXV.
The proceeds of the financing will be used for general working capital purposes.
https://www.newsfilecorp.com/release/98241/International-Zeolite-Announces-Private-Placement-up-to-1.28-million