|November 25, 2009|
Zimtu Capital Corp. Announces Private Placement
|Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company") is pleased to announce a private placement of up to 850,000 units at a price of $1.20 per unit for gross proceeds of $1,020,000.|
Each unit will consist of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder to purchase one additional common share of the Company for two years, at a price of $1.50 per share in the first year and at a price of $2.40 per share in the second year. The securities issued will be subject to a four-month hold period.
The offering is subject to the approval of the TSX Venture Exchange (the "TSX") and a finder's fee may be payable in accordance with the policies of the TSX.
The proceeds of the private placement will be used to advance the Company's continued investment business plan and for general working capital.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
President & Director
Phone: (604) 681 1568
Fax: (604) 681 8240
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. Forward-looking statements in this news release include that the private placement is subject to the approval of the TSX, that a finder's fee may be payable and that the proceeds of the private placement will be used towards the Company's investment business plan and general working capital
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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