|December 31, 2010|
Zimtu Capital Corp. Announces Exercise of Warrants
|Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) ("Zimtu") is pleased to announce that 408,927 share purchase warrants have recently been exercised at a price of $1.50 per common share for total proceeds of $613,391. The funds will be used for general working capital purposes.|
The warrants were issued in connection with a private placement completed December 29, 2009. Zimtu issued 1,032,500 warrants to purchase one additional common share of the Company at a price of $1.50 per share until December 29, 2010, and at a price of $2.40 per share until December 29, 2011. There are 623,573 warrants from the placement that will now be exercisable at a price of $2.40 per share until December 29, 2011.
"The Company's balance sheet has been strengthened with this demonstration of support from our shareholders. The additional funds will be valuable in helping to build on the significant growth the company has made over the last year," stated president of Zimtu, David Hodge.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
President & Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 funds received from the warrant exercises will be used towards general working capital; that the additional funds will be valuable in helping to build on the significant growth the company has made over the last year; that the Company invests in, creates and grows natural resource companies thereby providing a way for shareholders to indirectly participate and profit in the public company building process; and that the Company provides mineral property advisory services helping to connect companies to 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 Jan 6, 2011, Zimtu Capital Corp. Completes Transaction for Goeland Rare Earth Property, Montviel Carbonatite Complex, Quebec
You can view the Previous News Releases item: Wed Dec 15, 2010, Zimtu Capital Corp. Options Package of Seven Rare Metal Projects in Southern British Columbia to First Gold Exploration Inc.
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