|December 04, 2008|
Completion of Distribution and Consolidation of Share Capital
|December 4, 2008 - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT) ("the Company") announces that the distribution and conversion of 50,000,000 Special Warrants to common shares of the Company to shareholders of the former International Zimtu Technologies Inc. has been completed. The Special Warrants were issued to shareholders of International Zimtu Technologies Inc. of record as of April 21, 2006 in connection with the Company's Qualifying Transaction. International Zimtu shareholders received 15.44 Special Warrants for every 1 common share held as of April 21, 2006.|
In addition, the Company announces the consolidation of its common share capital on a 10 old common shares for 1 new common share basis. While the name of the Company and the stock symbol has remained the same, the CUSIP number has been changed to 989589205 (ISIN: CA9895892052). The consolidation was approved at a Special Meeting of the shareholders of the Company, held on October 10, 2008.
The share capitalization of the Company now consists of: 6,4 53,256 common shares issued and outstanding, of which 180,000 are being held in escrow for directors of the Company; 1,160,000 incentive stock options outstanding, exercisable at a minimum of $1.20 per share; 1,029,265 share purchase warrants outstanding, exercisable at a price of $2.40 until July 31, 2009; 41,666 Agent's warrants outstanding, exercisable into a unit of the Company at a price of $1.20 per unit until July 31, 2009.
Zimtu Capital Corp. is a TSX Venture listed investment issuer with a focus on giving its shareholders the opportunity to indirectly invest in a diversified series of early stage resource investments which would not otherwise be available to them. The Company intends to take advantage of the investment opportunities that arise between the private and public phases of an investment in the natural resources sector.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
President & Director
The TSX Venture Exchange Inc. does not accept responsibility for the accuracy or adequacy of this news 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.
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