VANCOUVER, April 29, 2015 /CNW/ - Zimtu Capital Corp.
(TSXv: ZC; FSE: ZCT1) (the "Company" or "Zimtu") is pleased to
announce that it has engaged Secutor Capital Management Corporation
and Marquest Capital Markets (the "Agents") to act as lead agents
in connection with a private placement of flow-through common
shares (the "FT Shares") at a price of $0.325 per FT Share and units (the "Units") at a
price of $0.30 per Unit for aggregate
gross proceeds of up to $1,000,000
(the "Offering").
Each Unit will consist of one non-flow-through common share
(each, a "Share") and one warrant (a "Warrant"). One Warrant
will be exercisable into additional non-flow-through common shares
of the Company ("Warrant Shares") for a period of 24 months from
closing at a price of $0.40 per
Warrant Share for the first 18 months from issuance, and
$0.30 per Warrant Share from 19
months to expiry of the Warrants.
On closing, the Company will grant to the Agent an
over-allotment option (the "Over-Allotment Option") to increase the
size of the offering by 20% of the Units that are purchased under
the private placement. The Over-Allotment Option is exercisable in
whole or in part for a period of 30 days from closing on the same
terms as above, solely to cover over-allotment. The
Over-Allotment Option does not apply to the FT Shares.
The Company will pay to the Agent a cash commission of 8% of the
gross sales of Units and FT Shares under the Offering, and issue to
the Agent 8% of the number of Units and FT Shares sold in Agent's
Options, with each Agent's Option being exercisable into Warrant
Shares at the same terms of the Warrants, entitling the Agents to
subscribe for that number of Units of the Issuer as is equal to 8%
of the total number of Flow Through Shares and Units issued
pursuant to the Offering and exercisable at the respective issue
prices.
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 Offering will be used for exploration and
development of resource properties in the case of the FT Shares and
general working capital in the case of the Units.
None of the securities sold in connection with the Offering will
be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful.
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.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
"David Hodge"
David Hodge
President & Director
Phone: 604.681.1568
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
expectations of raising funds and regarding use of proceeds of the
Offering.
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; the
Exchange may not approve the Offering; there may not be interested
subscribers; the proceeds of the Offering may not be used as stated
in this press release; and that the parties may be unable to
satisfy all of the conditions to closing the Offering.
Readers should refer to the risk disclosures outlined in the
Company's Management Discussion and Analysis of its audited
financial statements and other continuous disclosure documents
filed under the Company's profile on SEDAR
(http://www.sedar.com).
SOURCE Zimtu Capital Corp.