|August 18, 2010|
Zimtu Capital Corp. Acquires Securities of Lakeland Resources Inc.
|Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company" or "Zimtu") is pleased to announce that it has acquired 2,150,000 common shares of Lakeland Resources Inc. (TSXv: LK) (formerly Cats Eye Capital Corp.).|
Effective August 19, 2010, Lakeland Resources Inc. ("Lakeland") will commence trading on the TSX Venture Exchange as a Tier 2 Mining Issuer under the trading symbol "LK".
Lakeland acquired a 100% interest in the past-producing Camlaren Gold Project in the Northwest Territories for its qualifying transaction and is also reviewing additional project opportunities in the precious metals sector. Lakeland will be focused on gold exploration in Canada.
Zimtu's 2,150,000 common shares of Lakeland is equal to 14% of Lakeland's issued and outstanding share capital as of August 18, 2010. The common shares were acquired at a price of C$0.06 per share pursuant to a concurrent share sale with the former founders of Cats Eye as part of the successful completion of Lakeland's qualifying transaction and financing.
Zimtu's investment in Lakeland is consistent with the Company's strategy of making early-stage resource investments as well as creating and incubating companies to build value for shareholders. As a major shareholder, Zimtu will contribute to the future growth and development of Lakeland.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
President and Director
Tel: 604 681 1568
TF: 877 377 6222
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 Zimtu's receiving of shares and/or cash for its role as vendor or finder of certain mineral properties, Zimtu's evaluation and acquiring of properties for partnership and Zimtu's providing mineral property advisory services and assisting to connect companies with mineral properties of interest.
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: Thu Sep 2, 2010, Zimtu Capital Corp. Announces Rare Earth Element Property Transaction With Rare Earth Metals Inc.
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