|April 04, 2014|
Zimtu Capital Corp. Announces $2 Million Private Placement
|NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.|
April 4, 2014 - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company" or "Zimtu") is pleased to announce that it has engaged Secutor Capital Management Corporation (the "Agent") to act as lead agent in connection with a private placement of up to 4,000,000 units ("Units") at $0.50 per Unit for gross proceeds of up to $2,000,000.
Each Unit will consist of one common share and one warrant. Each share purchase warrant (a "Warrant") will be exercisable into one common share of the Company for a period of 24 months from closing at a price of $0.75 per common share. The Warrants will be subject to an acceleration clause.
On closing, the Company will grant to the Agent an over-allotment option to increase the size of the offering by 20% of the Units that are purchased under the private placement. The option is exercisable in whole or in part for a period of 30 days from closing on the same terms as set forth above solely to cover over-allotment.
The Company will pay to the Agent a cash commission of 8% of the gross sales of Units and issue to the Agent 8% of the number of Units sold in Broker Warrants, with each Broker Warrant being exercisable into Warrant Shares at a price of $0.50 per Warrant Share for a period of 24 months from closing.
All the securities issuable will be subject to a four-month hold period from the date of closing. The private placement is subject to the acceptance of the TSX Venture Exchange.
The proceeds of the private placement will be used for prospect generation, company building and general working capital.
About Zimtu Capital Corp.
Zimtu Capital Corp. is a public investment issuer that 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. The Company also provides mineral property project generation and advisory services helping to connect companies to properties of interest.
Zimtu Capital trades on the TSX Venture Exchange under the symbol "ZC" and the Frankfurt Stock Exchange under the symbol "ZCT1". For more information please visit the corporate website at http://www.zimtu.com or contact:
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
President & Director
Neither the 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 company will successfully raise $2 million dollars; agents' commissions will be payable; securities will be issuable; and any other future event related to this proposed financing.
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 Apr 10, 2014, Zimtu Capital Corp. Retains Rockstone For European Market Awareness
You can view the Previous News Releases item: Fri Mar 28, 2014, Zimtu Capital Corp. Broadens Technical Expertise with Addition of Michel Robert, Ian Graham & Jenna Hardy as Advisors
You can return to the main News Releases page, or press the Back button on your browser.