|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.
President & Director
Phone: (604) 681 1568
For more information contact:
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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