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Vancouver, British Columbia - Canadian Zeolite Corp. (TSX.V: CNZ) (the 'Company') announces a non-brokered private placement of up to 3,500,000 units at a price of $0.10 per unit to raise gross proceeds of up to $350,000.
Each unit consists of one common share and one non-transferable share purchase warrant. Each share purchase warrant is exercisable into one additional common share for a period of one year from the date of issue at an exercise price of $0.15 per share.
The proceeds of the private placement will be used to advance the company's operations and general working capital including; marketing, corporate accounting and geological services.
All or a portion of the offering may be completed pursuant to Multilateral CSA Notice 45-318 prospectus exemption for certain distributions through an investment dealer (CSA 45-318) and the corresponding instruments, orders and rules implementing CSA 45-318 in the participating jurisdictions (the investment dealer exemption). In order for the company to be able to rely on the investment dealer exemption, each subscriber must purchase the shares as principal and obtain advice regarding the suitability of the investment from a person that is registered as an investment dealer in the jurisdiction in which the subscriber is resident.
The Company may pay a finder's fee in connection with this private placement. All the securities issuable will be subject to a four-month hold period from the date of closing. The private placement is subject to the approval of the TSX Venture Exchange.
On behalf of the Board of Directors
Canadian Zeolite Corp.
'Ray Paquette'
President & CEO
604.684.3301
Neither 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.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Canadian Zeolite does not assume the obligation to update any forward-looking statement.