NZC-TSX
NORZF-OTCQB
VANCOUVER, BC, Oct. 7, 2021 /CNW/ - NorZinc Ltd
(TSX: NZC) (OTCQB: NORZF) ("NorZinc" or the
"Company") is pleased to announce that it has signed an
amended agreement with Boliden Commercial AB ("Boliden") for the
sale of zinc concentrates to be produced at NorZinc's 100% owned
Prairie Creek Mine, located in Northwest
Territories, Canada.
NorZinc has signed a non-binding Memorandum of Understanding
("MOU") with Boliden which extends the validity of the existing MOU
to June 30, 2023, from its original
expiry date of June 30, 2022, and
significantly increases zinc sulphide concentrates to be delivered
to Boliden, with exact annual quantities to be mutually agreed.
"We are very pleased to be partnering with Boliden, one of the
world's premier smelting companies committed to strong
environmental and sustainability practices." said Mr. Rohan Hazelton, President and CEO of NorZinc. He
continued, "In particular, Boliden has a proven track record in
treating complex raw materials at both its smelters in Norway and Finland, which are in part supported by
external mines. We believe this continued support of the Prairie
Creek Mine confirms the marketability of our planned zinc
concentrate production and demonstrates another milestone for the
Company in the path towards production."
About Boliden
Boliden is a metals company with a focus on sustainable
development. Boliden's roots are Nordic, and its market global.
Boliden's core competence lies within the fields of exploration,
mining, smelting and metal recycling. Boliden has around 6,000
employees and an annual turnover of SEK 50
billion. The Company's shares are listed in the Large Cap
segment on NASDAQ OMX Stockholm.
About NorZinc
NorZinc is a TSX-listed mine development company trading under
the symbol "NZC". NorZinc is developing its key project, the
100%-owned high-grade zinc-lead-silver Prairie Creek Mine, located
in the Northwest Territories,
Canada.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news
release.
Cautionary Statement – Forward-Looking
Information
This press release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of applicable Canadian securities
legislation. All statements, other than statements of historical
fact, are forward-looking statements and are based on expectations,
estimates and projections as at the date of this press release. Any
statement that involves discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions,
future events or performance (often but not always using phrases
such as "expects", "is expected" "anticipates", "plans", "budget",
"scheduled", "forecasts". "estimates", "believes" or intends" or
variations (including negative and grammatical variations) of such
words and phrases or stating that certain actions, events or
results "may" or "could, "would", "might" or "will" be taken to
occur or be achieved) are not statements of historical fact and may
be forward-looking statements. In this press release,
forward-looking statements relate, among other things, to: the
ability of the parties to satisfy the conditions precedent to
complete the Transaction and the ability of NorZinc and Canterra to
give effect to the sale, conveyance, assignment and transfer of
the Assets by NorZinc to Canterra ; and necessary
regulatory approvals, including the approval of the TSXV. These
statements are based upon assumptions that are subject to
significant risks and uncertainties, including assumptions that all
conditions to the closing of the Transaction will be satisfied and
that the parties to the Agreement will be able to obtain
shareholder, director and regulatory approvals, as applicable.
Although NorZinc and Canterra consider these assumptions to be
reasonable based on information currently available to them, they
may prove to be incorrect, and the forward looking statements in
this press release are subject to numerous risks, uncertainties and
other factors that may cause future results to differ materially
from those expressed or implied in such forward looking statements.
Such risk factors may include, among others, the risk that required
approvals are not obtained and material conditions are not
satisfied in connection with the Transaction; and the risk that the
Transaction is not approved or completed on the terms set out in
the Agreement or at all. Although NorZinc and Canterra believe that
the expectations reflected in forward-looking statements are
reasonable, they can give no assurances that the expectations of
any forward-looking statements will prove to be correct. Except as
required by law, Canterra and NorZinc disclaim any intention and
assume no obligation to update or revise any forward looking
statements to reflect actual results, whether as a result of new
information, future events, changes in assumptions, changes in
factors affecting such forward looking statements or
otherwise.
SOURCE NorZinc Ltd.