Zimtu Capital Corp. announces closing of private placement

 VANCOUVER, July 14, 2014 /CNW/ - Zimtu Capital Corp. (TSXV: ZC) (FSE: ZCT1)  (the "Company" or "Zimtu") announces that it has closed the non-brokered  private placement financing (the "Offering") it previously announced by News  Releases dated April 4, 2014 and June 17, 2014.  The Company issued 2,228,690 units ("Unit") at a price of $0.50 per Unit for  gross proceeds of $1,114,345. Each Unit consists of one common share of the  Company ("Share") and one non-transferable common share purchase warrant  ("Warrant"), with one Warrant entitling the holder to acquire one additional  Share ("Warrant Share") at a price of $0.75 per Warrant Share until July 11,  2016.  The Company paid cash finders' fees to certain finders in the aggregate amount  of $29,840 and issued 59,680 warrants (the "Finders' Warrants") exercisable  into Shares ("Finders' Warrant Shares") until July 11, 2016 at a price of  $0.50 per Finders' Warrant Share.  The Warrants and the Finders' Warrants are subject to an acceleration clause.   If on any 20 consecutive trading days following July 11, 2014, the closing  sales price of the Shares as quoted on the TSX Venture Exchange (the "TSXV")  is greater than 150% of the exercise price, the Company may accelerate the  expiry date of the Warrants or Finders' Warrants to the 30th day after the  date on which the Company gives such notice to the warrant holder.  All securities issued in the Offering will be subject to a statutory hold  period expiring November 12, 2014.  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 expectations of management regarding use of proceeds  of the Offering and acceleration of the Warrants and Finders' Warrants.  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.  please visit the corporate website at http://www.zimtu.com or contact Matt  Sroka, Corporate Communications, at 604.681.1568.  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/July2014/14/c2082.html  CO: Zimtu Capital Corp. ST: British Columbia NI: NEWSTK  
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