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VANCOUVER, June 17, 2014 /CNW/ - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1)
(the "Company" or "Zimtu") announces that it has revised the terms of the
private placement financing (the "Offering") it previously announced by News
Release dated April 4, 2014.
The revised terms of the Offering provide for the issuance of up to 2,000,000
units (each, a "Unit") at a price of $0.50 per Unit for gross proceeds of up
to $1,000,000. Each Unit will consist of one common share of the Company
(each, a "Share") and one non-transferable common share purchase warrant
(each, a "Warrant"), with each Warrant entitling the holder to acquire one
Share (each, a "Warrant Share") at a price of $0.75 per Warrant Share for a
period of 24 months from the closing of the Offering but subject to an
In addition, the revised terms of the Offering provide that Secutor Capital
Management Corporation ("Secutor") will not act as agent to the Offering.
Although the Offering will be non-brokered, the Company may pay a finder's
fees in accordance with the rules and policies of the TSX Venture Exchange
(the "Exchange"), consisting of: (i) a cash finder's fee equal to up to 8% of
the Units and (ii) the issuance of finder's warrants in an amount equal to
up to 8% of the Units. Each finder's warrant shall entitle the holder to
acquire one warrant share at a price of $0.50 per warrant share for a period
of 24 months from the closing of the Offering.
All securities issued in the Offering will be subject to a statutory hold
period expiring four months and one day after closing of the Offering.
Completion of the Offering is subject to a number of conditions, including,
without limitation, receipt of all regulatory approvals, including approval of
The Company intends to use the proceeds from the Offering for prospect
generation, company building and general working capital.
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.
Zimtu trades on the Exchange under the symbol "ZC" and the Frankfurt Stock
Exchange under the symbol "ZCT1".
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 that the company will successfully raise $1 million
dollars; finders' commissions will be payable; securities will be issuable;
expectations of management regarding use of proceeds of the Offering; closing
conditions of the Offering; the expiry of hold periods for securities
distributed pursuant to the Offering; Exchange approval of the proposed
Offering; and any other future event related to the proposed 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; 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.
For more information please visit the corporate website at
http://www.zimtu.com or contact: Matt Sroka, Corporate Communications, Tel:
604.681.1568, Email: firstname.lastname@example.org
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CO: Zimtu Capital Corp.
ST: British Columbia
-0- Jun/18/2014 01:48 GMT
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