|January 06, 2010|
Zimtu Capital Corp. Closes $1.28 Million Private Placement
|Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company") is pleased to announce that it has completed a private placement 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 consisted 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 at a price of $1.50 per share until during the first year and at a price of $2.40 per share during the second year.
The securities issued are subject to a four-month hold period, expiring April 29, 2010.
Finder's fees of $28,691 cash and 14,450 common shares were paid in accordance with the policies of the TSX Venture Exchange.
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. Forward-looking statements in this news release include 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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