NZC-TSX
NORZF-OTCQB
VANCOUVER, BC, Dec. 13,
2022 /CNW/ - NorZinc Ltd. (TSX: NZC) (OTCQB:
NORZF) (the "Company" or "NorZinc") is pleased to
announce that NorZinc and RCF VI CAD LLC ("RCF") have
completed the previously announced acquisition by RCF of NorZinc by
way of plan of arrangement under Division 5 of Part 9 of
the Business Corporations Act (British Columbia) (the
"Arrangement") effective at 12:01 a.m. (Vancouver time) on December 13, 2022.
The Arrangement was approved at the special meeting of NorZinc
securityholders held on December 5, 2022 (the
"Meeting") and by the Supreme Court of British
Columbia on December 8, 2022.
Pursuant to the Arrangement, the holders of common shares of
NorZinc (the "Shares") (other than RCF and its affiliates),
received $0.0325 in cash (less any
applicable withholding taxes) for each Share held. The Shares are
expected to be delisted from the Toronto Stock Exchange and the
OTCQB at the close of trading on December
15, 2022, and NorZinc intends to submit an application to
the applicable securities regulators to cease to be a reporting
issuer and to terminate its public reporting obligations.
Further information about the Arrangement is set forth in the
materials prepared by NorZinc in respect of the Meeting, which were
mailed to NorZinc shareholders and filed under NorZinc's SEDAR
profile on the System for Electronic Document Analysis and
Retrieval (SEDAR) at www.sedar.com.
About NorZinc
NorZinc is a mine development Company. NorZinc is focused on
developing its 100%-owned high-grade zinc-silver-lead Prairie Creek
Project, located in the Northwest
Territories.
Forward-looking statements and forward-looking
information
This news release includes certain statements and information
that may constitute forward-looking information within the meaning
of applicable Canadian securities laws. Forward-looing statements
include, without limitation, statements with respect to the
anticipated timing for delisting the Shares from the Toronto Stock
Exchange and OTCQB and submission of an application by NorZinc to
cease to be a reporting issuer. Forward-looking statements relate
to future events or future performance and reflect the expectations
or beliefs of management of the Company regarding future events.
Generally, forward-looking statements and information can be
identified by the use of forward-looking terminology such as
"intends", "expects" or "anticipates", or variations of such words
and phrases or statements that certain actions, events or results
"may", "could", "should", "would" or will "potentially" or "likely"
occur. This information and these statements, referred to herein as
"forward looking statements", are not historical facts, are made as
of the date of this news release.
These forward-looking statements involve numerous risks and
uncertainties, and actual results might differ materially from
results suggested in any forward-looking statements. These risks
and uncertainties include, among other things, those risk factors
discussed or referred to in the Company's disclosure documents
filed with the securities regulatory authorities in certain
provinces of Canada and available
at www.sedar.com.
In making the forward-looking statements in this news
release, the Company has applied several material assumptions.
Although management of the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements or
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and
forward-looking information. Readers are cautioned that reliance on
such information may not be appropriate for other purposes. The
Company does not undertake to update any forward-looking statement,
forward-looking information or financial out-look that are
incorporated by reference herein, except in accordance with
applicable securities laws. We seek safe harbor.
SOURCE NorZinc Ltd.
