Mr. David Hodge reports
ZIMTU CAPITAL CORP. ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Zimtu Capital Corp. has completed its previously announced non-brokered private placement, as described in its news release dated March 15, 2019, pursuant to which it has issued an aggregate of 1,112,000 units at a price of 25 cents per unit for gross proceeds of $278,000. Each unit consists of one common share in the capital of the company and one non-transferable share purchase warrant. Each warrant is exercisable into one additional share at a price of 30 cents per share for a period of two years from the closing date.
The securities issued under the private placement, and the shares that may be issuable on exercise of the warrants, are subject to a statutory hold period expiring on July 21, 2019.
The company intends to use the proceeds from the private placement for working capital.
About Zimtu Capital Corp.
Zimtu Capital 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.
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