Canada Zinc Metals Corp. Announces renewal of Normal Course Issuer Bid
Vancouver, British Columbia – Canada Zinc Metals Corp. – (TSX Venture – CZX) (“Canada Zinc” or the “Company”) announces that it has filed a Form 5G with the TSX Venture Exchange (“TSXV”) and received approval to purchase at market price up to 6,922,765 common shares, being approximately 5% of the Company’s issued and outstanding common shares, by way of a normal course issuer bid (the “Bid”) through the facilities of the TSXV. As of the date hereof there are 138,455,300 Common Shares of the Company issued and outstanding. The Bid will commence on August 1, 2011 and will stay open for 12 months. The Company purchased 1,227,000 Common Shares under its existing Normal Course Issuer Bid over the past 12 months.
The Company is engaging in a normal course issuer bid because it believes that the market price of its Common Shares does not properly reflect the underlying value of the Company. The purpose of the bid is to reduce dilution of the Company’s shares and to enhance the potential future value of the Common Shares which remain outstanding, thus increasing long term shareholder value. Purchases connected with this Bid will conducted through Canaccord Genuity Corp.’s offices in Vancouver. The Company will pay the market price of the Common Shares at the time of acquisition and will not purchase more than 2% of the total issued and outstanding common shares within any 30 day period.
A copy of the Notice may be obtained by any shareholder of the Company, without charge, by contacting the Company’s head office.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
CANADA ZINC METALS CORP.
PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN