 |
  |
| December 18, 2009 Zimtu Capital Corp. Private Placement Oversubscribed | |
| Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company") is pleased to announce that the private placement originally announced on November 25, 2009 has been oversubscribed. The private placement now consists of a total of 1,067,500 units at a price of $1.20 per unit for gross proceeds to the Company of $1,281,000. 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 private placement remains subject to the acceptance of the TSX Venture Exchange (the "TSX") and finder's fees 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. "David Hodge" David Hodge President & Director Phone: (604) 681 1568 For more information contact: Kevin Bottomley Shareholder Services Phone: 604.681.1568 Email: info@zimtu.com Website: http://www.zimtu.com 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: Wed Jan 6, 2010, Zimtu Capital Corp. Closes $1.28 Million Private Placement You can view the Previous News Releases item: Fri Dec 4, 2009, Grant of Stock Options You can return to the main News Releases page, or press the Back button on your browser. |