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July 29, 2022 – Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the “Company” or “Zimtu”) announces that it has entered into a definitive agreement with Eagle Bay Resources Corp. (“Eagle Bay”) to sell four (4) mining claims which comprise a property known as the “Wicheeda Extension” (the “Property”), located 85 km northeast of Prince George, British Columbia in the Rocky Mountain Rare Metal Belt.
Pursuant to a mineral property purchase agreement dated July 29, 2022 between the Company and Eagle Bay (the “Agreement”), the Company agreed to sell and Eagle Bay agreed to purchase a 100% interest in the claims which comprise the Property. As consideration for the Property, Eagle Bay will pay the Company $60,000, which sum shall be paid and satisfied in full by the issuance, by Eagle Bay, of 800,000 common shares (each, a “Consideration Share”) in the capital of Eagle Bay at a deemed price of $0.075 per Consideration Share.
Completion of the transactions contemplated in the Agreement, including the sale and purchase of the Property (the “Closing”), is subject to the Company obtaining the approval, if any, of the TSX Venture Exchange (the “TSXV”).
About Zimtu Capital Corp.
Zimtu Capital Corp. is a public investment issuer that aspires to achieve long-term capital appreciation for its shareholders. Zimtu Capital companies may operate in the fields of mineral exploration, mining, technology, life sciences or investment. The Company trades on the TSX Venture Exchange under the symbol “ZC” and Frankfurt under symbol “ZCT1”. For more information, please visit www.zimtu.com.
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 TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
This press release contains forward-looking statements., which include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking statements in this press release include that the Closing will occur and that the Company will receive requisite approval from the TSXV, if required.
These statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include, but are not limited to: adverse market conditions, the inability of the Company to complete the proposed sale of the Property, or the TSXV not approving the sale of the Property on the terms announced or at all.
Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.