PE-backed Adventus Zinc closes $3M IPO

Adventus Zinc Corporation (TSX-V: ADZN) has closed previously announced initial public offering (IPO) through the issuance of 6,000,000 common shares at $0.50 per share for gross proceeds of $3 million.

Haywood Securities Inc. acted as agent for the offering. McInnes Cooper and Farris, Vaughan, Wills & Murphy LLP acted as legal counsels to Adventus Zinc and the agent respectively.

Adventus Zinc now has approximately 45.6 million common shares outstanding and $9.8 million in working capital.

Adventus Zinc is a newly formed company focused on zinc exploration of a portfolio of projects in Ireland and Eastern Canada it acquired from Altius Minerals Corporation (TSX: ALS), as well as pursuing the acquisition of advanced zinc projects.

Adventus Zinc major shareholders include Altius Minerals (25.23%), Greenstone Resources II L.P. (16.66%), and Resource Capital Fund VI L.P. (16.66%)

photo credit: Altius Minerals

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.