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VANCOUVER,
April 4, 2014 /CNW/ - Zimtu
Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company" or "Zimtu") is
pleased to announce that it has engaged Secutor Capital Management
Corporation (the "Agent") to act as lead agent in connection with a
private placement of up to 4,000,000 units ("Units") at
$0.50 per Unit for gross proceeds of
up to $2,000,000.
Each Unit will consist of one common share and one warrant. Each
share purchase warrant (a "Warrant") will be exercisable into one
common share of the Company for a period of 24 months from closing
at a price of $0.75 per common share.
The Warrants will be subject to an acceleration clause.
On closing, the Company will grant to the Agent an
over-allotment option to increase the size of the offering by 20%
of the Units that are purchased under the private placement. The
option is exercisable in whole or in part for a period of 30 days
from closing on the same terms as set forth above solely to cover
over-allotment.
The Company will pay to the Agent a cash commission of 8% of the
gross sales of Units and issue to the Agent 8% of the number of
Units sold in Broker Warrants, with each Broker Warrant being
exercisable into Warrant Shares at a price of $0.50 per Warrant Share for a period of 24 months
from closing.
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 private placement will be used for prospect
generation, company building and general working capital.
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 Capital trades on the TSX Venture 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 $2 million
dollars; agents' commissions will be payable; securities
will be issuable; and any other future event related to this
proposed
financing.
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. Readers should
refer to the risk disclosures outlined in the Company's Management
Discussion and Analysis of its audited financial statements filed
with the British Columbia Securities Commission.
SOURCE Zimtu Capital Corp.