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VANCOUVER, July 24, 2015 /CNW/ - Zimtu Capital Corp. (TSXv:
ZC) (FSE: ZCT1) (the "Company" or "Zimtu") announces that it
has closed the second and final tranche of its private placement as
previously announced June 12, 2015,
June 5, 2015 and April 29, 2015 (the "Offering"). In the final
tranche of the Offering, the Company issued 238,680 flow-through
common shares (the "FT Shares") at a price of $0.265 per FT Share and 529,456 units (each,
a "Unit") at a price of $0.255
per Unit for aggregate gross proceeds of $198,261.48. Each Unit consists of one
non-flow-through common share (each, a "Share") and one
non-transferable share purchase warrant (each, a "Warrant").
Each Warrant is exercisable into a Share (each, a "Warrant Share")
at a price of $0.30 per Warrant Share
until July 21, 2017. On
June 12, 2015, the company closed the first tranche of the
Offering for gross proceeds of $300,025. As such, the Company has raised a total
of $498,286.48 pursuant to the
Offering.
Insiders of the Company participated in the Offering in the
aggregate amount of $27,635.88.
The Company did not pay any finder's fees in connection with the
second tranche of the Offering.
The securities issued under the Offering are subject to a
statutory hold period expiring on November
22, 2015. None of the securities issued in the
financing have been registered under the
United States Securities Act of 1933, as amended (the
"1933 Act"), and none of them may be offered or sold in
the United States absent
registration or an applicable exemption from the registration
requirements of the 1933 Act. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy,
nor shall there be any sale of, the securities in any state where
such offer, solicitation, or sale would be unlawful.
The Company intends to use the net proceeds of the Offering for
exploration and development of resource properties and for 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". For more information please visit the corporate
website at 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 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.
Disclaimer for Forward-Looking
Information
This press release contains projections
and forward-looking information that involve various risks and
uncertainties regarding future events related to the Offering and
tax treatment of the FT Shares, including statements regarding the
use of proceeds of the Offering. No assurance can be given that any
of the events anticipated by the forward-looking statements will
occur or, if they do occur, what benefits the Company will obtain
from them. These forward-looking statements reflect
management's current views and are based on certain expectations,
estimates and assumptions which may prove to be incorrect. A
number of risks and uncertainties could cause the Company's actual
results to differ materially from those expressed or implied by the
forward-looking statements, including: a downturn in general
economic conditions in North
America and internationally and other factors beyond the
Company's control. These and all subsequent written and oral
forward-looking information are based on estimates and opinions of
management on the dates they are made and expressly qualified in
their entirety by this notice. Except as required by law, the
Company assumes no obligation to update forward-looking information
should circumstances or management's estimates or opinions
change.
SOURCE Zimtu Capital Corp.