Exhibit 10.1
NEWS RELEASE
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NZC-TSX NORZF-OTCQB | | | FOR IMMEDIATE RELEASE | |
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| NORZINC ANNOUNCES INTENTION TO TERMINATE SEC REPORTING OBLIGATIONS | |
February 25, 2020 — Vancouver, British Columbia — NorZinc Ltd. (TSX: NZC; OTCQB: NORZF) (the “Company” or “NorZinc”) announces it will voluntarily file a Form 15F with the United States Securities and Exchange Commission (the “SEC”) to terminate the registration of its common shares under Section 12(g) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and its reporting obligations under Section 13(a) of the Exchange Act.
Management of the Company is of the view that the costs associated with continuing the registration and reporting under the Exchange Act outweigh the benefits received by the Company from maintaining its registration.
The termination will become effective 90 days after the date of filing of the Form 15F with the SEC, or within such shorter period as the SEC may determine. Upon filling of the Form 15F, the Company’s reporting obligations under the Exchange Act will be immediately suspended, including its obligations to file annual reports on Form 20-F and reports on Form 6-K.
The Company’s common shares are currently quoted on the OTCQB, operated by OTC Markets Group Inc. After filing of the Form 15F, the Company expects its common shares to continue to be quoted on the OTCQB under the ticker symbol “NORZF”.
The Company’s shares will continue to trade on the TSX, and the Company will continue to meet its Canadian continuous disclosure obligations through filings with the applicable Canadian securities regulators. All of the Company’s filing can be found at the SEDAR website at www.sedar.com.
About NorZinc
NorZinc is a TSX-listed mine development Company trading under the symbol “NZC”. NorZinc is developing its key project, the 100%-owned high grade zinc-lead-silver Prairie Creek Mine, located in the Northwest Territories. NorZinc also owns projects in Newfoundland that host several zinc-lead-copper-gold-silver deposits.
Neither the Toronto Stock Exchange, nor its Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release.
For further information: Don MacDonald, President & CEO, (604) 688-2001, Suite 1710 - 650 West Georgia Street, Vancouver, BC V6B 4N9; Steve Dawson, VP Corporate Development, (416) 203-1418, Suite 1805, 55 University Avenue, Toronto, ON M5J 2H7, steve.dawson@norzinc.com; Tollfree:1-866-688-2001; E-mail: invest@norzinc.com; Website: www.norzinc.com
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