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Slide #87. Canadian Zinc Corporation — Paragon Minerals Corporation
Canadian Zinc Corporation (CZN.CA)
Paragon Minerals Corporation
Canadian Zinc Corporation and Paragon Minerals Corporation announced that they have successfully completed the plan of arrangement announced on July 31, 2012 whereby Canadian Zinc has acquired all of the issued and outstanding common shares in the capital of Paragon that it did not already own. The Arrangement was approved by Paragon shareholders on September 17, 2012 and approved by the Supreme Court of British Columbia on September 20, 2012.
Canadian Zinc is engaged in the exploration, development and permitting of gold, silver, zinc and base metals properties primarily in Canada. Co. is considered to be in the exploration and development stage given that its mineral properties are not yet in production and have not earned any significant revenues. The recoverability of amounts shown for exploration and evaluation assets is dependent on the existence of economically recoverable reserves, obtaining the necessary permits to operate a mine, obtaining the financing to complete development and future profitable production.
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