VANCOUVER, May 30, 2014 /CNW/ - Zimtu Capital Corp.
(TSXv: ZC; FSE: ZCT1) (the "Company" or "Zimtu") announces that the
Company has entered into an agreement with Pasinex Resources
Limited ("Pasinex") to acquire 2,877,718 common shares in the
capital stock of Pasinex in settlement of outstanding debt. Upon
issuance of the shares, Zimtu's equity position in Pasinex will
increase to 11,620,360 (17%).
The Company has agreed to settle $287,771.85 at a deemed price of $0.10 per common share. The shares will be
subject to a four month regulatory hold period.
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.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
"David Hodge"
David
Hodge
President & Director
Phone: 604.681.1568
Neither 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 common shares will be issued and that the
ownership will increase to 17%.
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.