29 May 2018
Canadian Zinc Corporation announces that at its upcoming annual general and special meeting to be held on June 27, 2018, shareholders will be asked to approve a statutory arrangement to reorganise the company into a separate publicly-listed holding corporation, to be named NorZinc Ltd., and a directly held, wholly-owned, operating subsidiary. Currently the company’s flagship asset, the Prairie Creek Zinc-Lead-Silver project, is held directly by the public company Canadian Zinc Corporation. The objective of the arrangement is to structure the assets of the Company to facilitate future project financing of the Prairie Creek project. Discussions to date with financial institutions have confirmed that the opportunity of raising project debt financing to complete the development and construction of the Prairie Creek mine would require that the Prairie Creek project be held in a separate stand-alone entity, and that the public parent company be structured to act as project sponsor.