Adventus Zinc closes $10 million financing led by Wheaton Precious Metals

17 July 2018

On July 17, 2018, Adventus Zinc Corporation ("Adventus Zinc” or the “Company") (TSXV: AZDN) announced that it had closed its previously announced non-brokered private placement of common shares (the "Offering") for total gross proceeds of approximately $9.2 million.

Wheaton Precious Metals Corp. ("Wheaton") (TSX: WPM) (NYSE: WPM) was the largest participant in the Offering and now owns 9.99% of the Company's common shares. The net proceeds of the Offering will be used by the Company to fund exploration and development activities at the Curipamba project and within its Ecuador exploration alliance.

In addition, a subsidiary of Wheaton, Wheaton Precious Metals International Ltd., paid $800,000 in cash to Adventus Zinc for certain first rights relating to new precious metals royalties or streams pertaining to the Company's interests in the Curipamba project and within its Ecuador exploration alliance, as well as future projects acquired by the Company in Ecuador.

Concurrent with completing the Offering, the Company issued an aggregate of 3,804,348 common shares of Adventus Zinc to Salazar Resources Ltd. as consideration for the Pijilí and Santiago projects that were acquired under its Ecuador exploration alliance.

Toronto-based Adventus is focused on base metals exploration and project development globally. The company has large prospective land packages in both Ireland and Canada, and is earning a 75% ownership interest in the Curipamba copper-gold-zinc project in Ecuador. In addition, Adventus has a country-wide exploration alliance with its partners in Ecuador, incorporating two projects to date.

Wheaton is the largest pure streaming company in the world. The company has entered into agreements to purchase all or a portion of the silver and/or gold production from long-life, low-cost mines for an upfront payment and an additional payment upon delivery of the precious metals.

Gowling WLG advised Adventus Zinc with respect to these matters with a team that included Denis Silva and Tara Amiri-Khaledi.


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