Zincore Metals Inc.

Zincore Metals Inc.

July 10, 2015 15:03 ET

Zincore Announces Shares for Debt Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 10, 2015) -


Zincore Metals Inc. (TSX VENTURE:ZNC.H) ("Zincore" or the "Company") reports that it has entered into a debt settlement agreement (the "Agreement") with certain creditors of the Company's Peruvian subsidiary, Exploraciones Collasuyo S.A.C. ("Collasuyo") Pursuant to this Agreement, the Company has agreed to issue an aggregate of 1,829,359 common shares (the "Shares") at a deemed price of C$0.05 per Share. The amount of indebtedness settled by the Agreement is C$91,467.96 (the "Debt"), which represents outstanding statutory payments related to the termination of Collasuyo employees. The Company decided to satisfy the Debt with Shares in order to preserve its remaining cash for operations and the settlement of other obligations.

The issuance of shares is subject to the approval of the TSX Venture Exchange (the "Exchange") and the Company will issue the Shares once the issuance has been approved by the Exchange and any other applicable regulatory bodies.

About Zincore

Zincore is a Vancouver-based mineral exploration company focused on zinc and related base metal opportunities in Peru. The Company's common shares trade on the NEX exchange under the symbol ZNC.H. For more information, please see our website at www.zincoremetals.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statements: Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events or the Company's future performance, business prospects or opportunities. Forward-looking information includes, but is not limited to, statements with respect to the Company's exploration activities. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect, "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions) are not statements of historical fact and may be forward looking information. The Company believes that the expectations reflected in such forward looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. These statements speak only as of the date of this press release. The Company does not intend, and does not assume any obligation, to update any forward-looking information except as required by law. Forward looking information involves risks and uncertainties which may cause actual results to be materially different from those expressed or implied by such forward looking information. Such risk and uncertainties relate to, among other things, results of exploration and development activities, the Company's historical experience with development-stage mining operations, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, changes in commodity prices, actual operating and financial performance of facilities, equipment and processes relative to specifications and expectations and unanticipated environmental impacts on operations, as well as those factors discussed in the section entitled "Risk Factors" and elsewhere in the Annual Information Form of Zincore dated April 28, 2015 which is filed with Canadian securities regulatory authorities and available on SEDAR (www.sedar.com). Such information contained herein represents management's best judgment as of the date hereof based on information currently available.

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