Mr. Sean Charland reports
ZIMTU CAPITAL CORP. SIGNS AGREEMENT TO SELL COPPERLINE PROPERTY TO STAR COPPER CORP. & ANNOUNCES BOARD UPDATE
Zimtu Capital Corp. has signed a definitive agreement dated July 14, 2025, with Star Copper Corp. for the sale of a 100-per-cent interest in the Copperline property, located in north-central British Columbia.
The Copperline property comprises seven mineral claims totalling approximately 2,687 hectares. It is located near Skutsil Knob at the southern end of the Driftwood range, approximately 120 kilometres north-northeast of Smithers, B.C.
Transaction terms
Under the terms of the agreement, Zimtu will receive the following consideration from Star Copper:
- The sum of $100,000 in cash on signing of the agreement and $250,000 in cash six months from signing;
- Issue to the vendor an aggregate 200,000 common shares on signing of the agreement and 300,000 common shares six months from signing;
- Pay the vendor $1.5-million, consisting of $750,000 in cash and $750,000 in common shares, for the completion of a favourable preliminary economic assessment;
- The purchaser shall grant a 2-per-cent royalty on returns from the commercial production of mineral projects from the property to the vendor. The NSR royalty shall be freely assignable by the vendor, upon written approval of the purchaser, and one-half (1.0 per cent) of the NSR royalty may be purchased at any time within five years of the effective date for a cash payment of $1-million to the vendor.
No finders' fees will be paid in connection with the transaction. The transaction involves non-arm's-length parties, as such term is defined in Policy 5.3 of the TSX Venture Exchange, as Sean Charland is a director of Zimtu and Star and Jody Bellefleur is the chief financial officer of Zimtu and Star. Closing will be subject to, among other conditions, Zimtu obtaining approval for the transaction from the exchange.
Board update
The company also announces the resignation of Chris Grove from the board of directors. The company thanks Mr. Grove for his contributions over the many years of service and wishes him all the best in his future endeavours.
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 in Frankfurt under the symbol ZCT1.
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