VANCOUVER, Aug. 18 /PRNewswire-FirstCall/ - Zimtu Capital
Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company" or "Zimtu") is pleased
to announce that it has acquired 2,150,000 common shares of
Lakeland Resources Inc. (TSXv: LK) (formerly Cats Eye Capital
Corp.).
Effective August 19, 2010,
Lakeland Resources Inc. ("Lakeland") will commence trading on the
TSX Venture Exchange as a Tier 2 Mining Issuer under the trading
symbol "LK".
Lakeland acquired a 100% interest in the past-producing Camlaren
Gold Project in the Northwest
Territories for its qualifying transaction and is also
reviewing additional project opportunities in the precious metals
sector. Lakeland will be focused on gold exploration in
Canada.
Zimtu's 2,150,000 common shares of Lakeland is equal to 14% of
Lakeland's issued and outstanding share capital as of August 18, 2010. The common shares were acquired
at a price of C$0.06 per share
pursuant to a concurrent share sale with the former founders of
Cats Eye as part of the successful completion of Lakeland's
qualifying transaction and financing.
Zimtu's investment in Lakeland is consistent with the Company's
strategy of making early-stage resource investments as well as
creating and incubating companies to build value for shareholders.
As a major shareholder, Zimtu will contribute to the future growth
and development of Lakeland.
About Zimtu Capital Corp.
-------------------------
Zimtu Capital Corp. is a TSX Venture listed investment company
that invests in, creates and grows natural resource companies
thereby providing a way for investors to participate and profit in
the public company building process. The Company also provides
mineral property 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 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
Zimtu's investment in Lakeland is consistent with its strategy of
making early-stage resource investments, creating & incubating
companies to build value for shareholders and that Zimtu will
contribute to the future growth and development of Lakeland.
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.
Copyright . 18 PR Newswire