Blue Moon Closes $778,900 Oversubscribed Financing
January 26, 2021
Blue Moon Zinc Corp. (TSXV: MOON; US OTC: BMOOF) (the “Company”) announces it has closed a non-brokered private placement of $778,900at a price of $0.08 per unit (the “Unit”) with each Unit consisting of one common share and one common share purchase warrant (a “Warrant”).
Each Warrant shall entitle the holder thereof to acquire one common share at a price of $0.12per share until July25, 2023.The financing was increased from the $500,000 amount announced on January 12, 2021due to substantial market interest. Proceeds of the financing will be for preparatory work for the upcoming Blue Moon drill program and general working capital.
“The strong market interest in our financing is indicative of the quality and potential of our Blue Moon Silver-Zinc project which is strategically positioned in California, USA. Being a past producer with excellent infrastructures and access, Blue Moon is able to provide a significant amount of zinc, silver, and other valuable electric metals for the growing technology products and services of US based companies. After a successful drilling campaign a year ago by our former joint venture partner, I am excited to be embarking on our own drill program to potentially expand the VMS footprint of Blue Moon Zinc-Silver project further in 2021.” Commented Patrick McGrath, CEO of Blue Moon.
The common shares forming part of the Units and any shares issued upon theexercise of the Warrants are subject to a hold period which expires on May 26, 2021. The Company paid finder’s fees totaling $17,220 and issued 215,250 finder’s warrants under the private placement. Each finder’s warrant is exercisable to acquire one common share at $0.12 per share until July 25, 2023.
About Blue Moon
Blue Moon (TSX.V: MOON; OTC: BMOOF) is currently advancing its 100% owned Blue Moon polymetallic deposit in California which contains zinc, gold, silver and copper. The deposit is open at depth and along strike. The Blue Moon 43-101 Mineral Resource includes 7.8 million inferred tons at 8.07% zinc equivalent(4.95% zinc, 0.04oz/tgold, 0.46% copper, 1.33oz/tsilver), containing 771 million pounds of zinc, 300,000 ounces of gold, 71 million pounds of copper, and 10 million ounces of silver.The 43-101 Mineral Resource report dated November 14, 2018 was authored by Gary Giroux, P. Eng.,and Lawrence O’Connor, a QP, and entitled “Resource Estimate for the Blue Moon Massive Sulphide Occurrence”. The 43-101 andrelated press release with details on the resource are available on the company’s website and were filed on www.sedar.com on November 20, 2018.
The Company also holds 100% of the Yava polymetallic project in Nunavut that is in the same volcanic lithologies and south of Glencore’s Hackett River deposit. More information is available on the company’s web site (www.bluemoonmining.com).
Neither the 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.Qualified Persons John McClintock, P. Eng, a Director of the Company, is a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this press release. For more information,please contact:Patrick McGrath, CEO1firstname.lastname@example.orgInvestor Contact:Kevin ShumInvestor Relations+1-647-725-3888 ext email@example.comResource estimates included in this news release are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based onreasonable assumptions set forth in the relevant technical report and otherwise, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for commodities, the results of future exploration, uncertainties related to the ability to obtain necessary permits, licenses and titles, changesin government policies regarding mining, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.The securities referenced in this news release have not and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requireme