Zinc of Ireland NL announced that it will issue 40,000,000 common shares at an issue price of AUD 0.05 per share for total gross proceeds of AUD 2,000,000 on May 4, 2022. The transaction will include participation from from sophisticated and institutional investors. The company will receive funding in two tranches. The company will issue 33,000,000 shares in first tranche and 7,000,000 shares in second tranche, which are subject to Shareholder approval. The lead manager will receive a fee of 2% of funds raised under the Placement. Other AFSL holders that subscribe to the placement (either personally or on behalf of their clients) will be entitled to a 4% fee.