Rio Cristal Zinc Corporation

Rio Cristal Zinc Corporation

December 24, 2007 15:17 ET

Rio Cristal Zinc Corporation Revises Its Initial Public Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2007) -


Rio Cristal Zinc Corporation ("Rio Cristal" or the "Company") announces that it has filed an amendment dated December 20, 2007 to its November 23, 2007 prospectus with the securities commissions in British Columbia, Alberta and Ontario to, due to current market conditions, amend the price of its initial public offering and to disclose interim funding arranged by the Company.

The Company has revised the price of the 12 million units offered under the prospectus to $0.50 per unit to raise gross proceeds of $6,000,000. All other terms of the units are unchanged. Rio Cristal has also arranged funding of approximately $290,000 from certain directors and officers for interim working capital purposes pending completion of the offering. The loans bear interest at the rate of 12% per annum and will be repaid from the proceeds of the offering.

The initial public offering is now expected to close in early January.


Charles Ushela, President and Chief Executive Officer

About Rio Cristal:

The principal business of Rio Cristal is the exploration of the zinc exploration property in Peru known as the "Charlotte Bongara Zinc Project". The Charlotte Bongara Zinc Project consists of a group of contiguous claims totalling 25,073 hectares located approximately 740 km north of Lima Peru near Yambrasbamba in the Department of Amazonas. The Charlotte Bongara claims contain several early stage prospects that are Mississippi Valley-type zinc-lead prospects. The Company is currently conducting an exploration program on the project and plans to conduct a US$1.94 million phase 1 exploration work program and, contingent on the results thereof, a portion of a phase 2 program, using the funds from the prospectus offering. The Company has the right to purchase under a Concession Transfer Agreement by making payments over a 10 year period as disclosed in the prospectus.

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Rio Cristal's expectations include risks detailed from time to time in the filings made by the Company with securities regulators.

Contact Information

  • Rio Cristal Zinc Corporation
    Steven Krause
    (604) 609-9644
    (604) 609-9946 (FAX)