VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 20, 2015) - Zincore Metals Inc. (ZNC.TO)(ZNC.TO) ("Zincore", the "Company") reports that it has applied for voluntary delisting of its shares on the TSX and concurrently applied for a listing on the NEX, a separate board of the TSX-V.
Zincore CEO and President, Jorge Benavides, commented, "An NEX listing will continue to offer investors an opportunity to buy and sell Zincore shares, while at the same time reducing our expenses. Given that it remains extremely difficult to raise funds in the current markets and we are subject to a TSX listing review as reported March 2nd, we have reviewed the Company's options and believe that delisting our shares from the TSX now and transitioning to the NEX is in the best interests of our shareholders."
Mr. Benavides concluded, "Although the market is not currently recognizing the value of earlier stage projects, it is imperative that investors remember that the Company still owns and participates in the same projects whether listed on the NEX or TSX and that we continue to pursue every avenue to realize value from these assets for our shareholders."
Zincore's flagship project is the Accha Zinc Oxide District project, which was the subject of a positive Pre-Feasibility Study as originally announced August 6, 2013. The Company also holds a 49.1% stake in the Dolores porphyry copper project joint-venture with First Quantum Minerals and controls a 50,000 Ha land package with three identified copper target areas located in the prolific Yauri-Andahuaylas copper belt of southern Peru.
For more information on the Accha Zinc Oxide District Project Pre-Feasibility Study results and report, please see our news releases dated August 6th and 26th, 2013. For more information on the Dolores joint-venture, please see our news releases dated October 29th, March 21st, January 15th and January 8th, 2013 as well as November 23rd, September 6th and July 13th, 2012. For more information on the Zincore, please see our news releases dated February 15, 2015, December 10th, November 27th, July 23rd and January 23rd, 2013.
The Company expects the delisting of its shares from the TSX and transition to the NEX to happen simultaneously and the Company will issue a further press release once the date has been determined. Zincore shares also trade on the Lima Stock Exchange ("BVL") and the Company understands that one of the conditions of this listing is to maintain a TSX or TSX-V listing. Accordingly, it is expected that the Company's shares may cease to trade on the BVL during the NEX listing period.
About Zincore
Zincore is a Vancouver-based mineral exploration company focused mainly on zinc and related base metal opportunities in Peru. For more information, please see our website at www.zincoremetals.com.
Forward-looking Statements: Certain statements contained in this press release constitute forward-looking information with 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 copper exploration activities and a potential joint venture with First Quantum for copper targets within the Reconnaissance Properties. 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 March 18, 2014 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.