VANCOUVER, Nov. 18, 2014 /CNW/ - Zimtu Capital Corp. (TSXv:
ZC; FSE: ZCT1) (the "Company" or "Zimtu") is pleased to announce
that the Company and two of its prospecting partners have received
TSX Venture Exchange ("TSXv") acceptance of an option agreement
with Equitas Resources Corp. (TSXv: EQT) ("Equitas") whereby
Equitas can earn a 100%-interest in the Garland Property located in
Labrador, Canada.
For its participation in the transaction, Zimtu will receive
staged cash and share payments from Equitas as follows: (i)
$15,000 on signing; (ii) 1,000,000
common shares on acceptance by the TSXv; (iii) $25,000 on completion of an airbourne survey;
(iii) 1,000,000 common shares 18 months following the TSXv
acceptance date; and (iv) 1,000,000 common shares 36 months from
the TSXv acceptance date. Zimtu's partners will also receive staged
cash and share payments.
The Garland Property encompasses 25,050 hectares and is 30
kilometres southeast of Vale's Voisey's Bay Nickel/Copper/Cobalt
mine. A review of historical exploration work shows the property to
be within an environment favorable for magmatic Ni-Cu sulphide
deposits; and which also possess strikingly similar features to the
Voisey's Bay deposit(s).
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." For more information visit http://www.zimtu.com.
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
Equitas will earn a 100%-interest in the Garland Property located
in Labrador, Canada; that in
consideration for its interest, Zimtu will receive staged cash and
share payments from Equitas, that Zimtu's partners will receive
cash and share consideration; reference to historical
exploration work showing the property to be within an environment
favorable for magmatic Ni-Cu sulphide deposits; and which also
possess strikingly similar features to the Voisey's Bay
deposit(s).
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.