Mr. Sean Charland reports
ZIMTU CAPITAL CORP. - EARLY WARNING NEWS RELEASE
Zimtu Capital Corp. has acquired 2,408,200 units of Sceptre Ventures Inc. at a price of one cent per unit pursuant to a private placement offering undertaken by Sceptre. The units comprise 2,408,200 common shares and 2,408,200 share purchase warrants. Each warrant entitles the holder to purchase one additional share at a price of five cents per share within 12 months from the date of closing.
Prior to the closing of the offering, Zimtu directly owned and controlled 3,993,100 common shares of Sceptre, representing 33.25 per cent of the issued and outstanding common shares of Sceptre on a fully diluted basis. Following closing of the offering, Zimtu holds 6,401,300 common shares in the capital of Sceptre and 2,408,200 share purchase warrants, representing 26.65 per cent of the issued and outstanding common shares of Sceptre on an undiluted basis, and 33.33 per cent of the issued and outstanding common shares of Sceptre on a partially diluted basis.
Zimtu acquired the units for investment purposes only, and, depending on market and other conditions, may from time to time in the future increase or decrease its ownership, control or direction over securities of Sceptre, through market transactions, private agreements or otherwise.
This acquisition by Zimtu of the 2,408,200 units exceeded 2 per cent of the issued and outstanding common shares of Sceptre, and triggered the requirement to file this news release, which is being issued pursuant to the requirements set forth in National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, and National Instrument 62-104 -- Take-Over Bids and Issuer Bids. Zimtu will be filing an early warning report with respect to the acquisition of the units containing additional information under Sceptre's SEDAR+ profile.
About Zimtu Capital Corp.
Zimtu Capital is a public investment issuer that aspires to achieve long-term capital appreciation for its shareholders. Zimtu Capital companies may operate in the fields of mineral exploration, mining, technology, life sciences or investment. The company trades on the TSX Venture Exchange under the symbol ZC and Frankfurt under symbol ZCT1.
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