|May 04, 2009|
Option Grant and Re-pricing
|May 4, 2009 - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) ("the Company"), announces that it has granted a total of 303,333 incentive stock options to employees and consultants. Subject to the approval of the TSX Venture Exchange (the "Exchange"), each stock option is exercisable into one common share of the Company at a price of $0.90 per share until May 1, 2014.|
The Company also announces the re-pricing of a total of 898,000 incentive stock options to reflect current market conditions, subject to the approval of the Exchange. The options were originally granted in 2006 and 2007 at prices ranging from $1.00 to $1.50. The new exercise price for the options will be $0.90 per share. Insiders hold 200,000 of the options and disinterested shareholder approval for the re-pricing of those options is being sought at the Company's AGM, being held on May 28, 2009.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
President & Director
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.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
You can view the Next News Releases item: Thu May 7, 2009, Zimtu Capital Corp. Welcomes Sven Olsson to Board of Directors
You can view the Previous News Releases item: Fri Feb 6, 2009, Resignation of Director
You can return to the main News Releases page, or press the Back button on your browser.