|November 04, 2010|
Zimtu Capital Corp. Completes $2 Million Non-Brokered Private Placement
|Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company") is pleased to announce that it has completed a non-brokered private placement of 1,706,643 common shares at a price of $1.20 per share for gross proceeds to the Company of $2,047,973.|
The private placement remains subject to the final acceptance of the TSX Venture Exchange (the "TSXv") and finder's fees may be payable in accordance with the policies of the TSXv. The securities issued will be subject to a four-month hold period.
The proceeds from the private placement will be used for investment opportunities and general working capital.
The Company also announces that it has granted a total of 250,000 incentive stock options to certain directors and officers of the Company. Each stock option will be exercisable into one common share of the Company at a price of $1.48 per share for a period of five years.
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.
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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