August 25, 2022 – Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the “Company” or “Zimtu”) is pleased to announce that equity holding company Zinc8 Energy Solutions confirms no material change to the company at the request of IIROC. To read the relevant news release from Zinc8 Energy Solutions please visit:
IIROC’s demand was made in response to the 7,271,789 shares of Zinc8 Energy Solutions’ stock traded yesterday, which saw the share price increase $0.075 to close at $0.315 CAD. Zimtu believes the elevated trading activity of Zinc8 Energy Solutions’ stock is a direct result of Senate Majority Leader Chuck Schumer’s announcement in July that a brownfield industrial site in Ulster County, NY is being considered as a site for Zinc8 Energy Solutions’ first manufacturing facility for the company’s innovative zinc-air energy storage system.
This pronouncement from Senator Schumer resulted in several very positive news articles in energy storage publications and also several New York State local media outlets regarding Zinc8 Energy and its President & CEO Ron MacDonald, including:
“NY Sen. Schumer calls Zinc8 with an offer”, Shane Lasley, Metal Tech News, July 11, 2022
“New plan to clean up Ulster County’s TechCity site, bring up to 500 jobs”, Olivia Leach, Spectrum 1 News, July 12, 2022
“Zinc-Air Energy Storage Race Just Got Hotter, Too”, Tina Casey, CleanTechnica, July 18, 2022
“Zinc8 Decouples the Linkage Between Energy and Power”, George Harvey, Green Energy Times, August 12, 2022
“iPark asbestos cleanup under way, Canadian battery company moving in”, Mid Hudson News, August 13, 2022
“Future power: Battery maker Zinc8 plans manufacturing at former IBM plant”, Geddy Sveikauskas, Hudson Valley One, August 18, 2022
“‘North America’s only pure homegrown’ battery gigafactory serving EV and BESS sectors opens in New York”, Andy Colthorpe, Energy Storage News, August 23, 2022
Zimtu Capital currently holds 6,417,361 shares of Zinc8 Energy Solutions in addition to 1,112,500 warrants. Zimtu Capital is not currently being paid by Zinc8 Energy Solutions to disseminate the company’s news.
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.