Zimtu Capital Corp. Announces Extension to Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / June 16, 2023 / Zimtu Capital Corp. (TSXV:ZC); (FSE:ZCT1) (the "Company" or "Zimtu") announces that the TSX Venture Exchange (the "TSX-V") has granted a two week extension to the Company for completion of its non-brokered private placement (the "Financing"), previously announced in its News Releases of March 14, 2023, May 2, 2023 and May 16, 2023.
The terms of the Financing provide for the issuance of up to 18,750,000 Units at a price of
Finder's fees or brokers' commissions comprised of cash and / or securities of the Company may be paid in connection with the Financing, in accordance with Exchange policies.
The Company intends to use the net proceeds from the Financing for proposed investments, including, without limitation, investments in businesses engaged in oil & gas and mineral exploration and specific property acquisitions. The Company may also use certain of the net proceeds for working capital purposes.
All securities issued in connection with the Financing will be subject to a statutory hold period expiring four months and one day after closing. Completion of the Financing is subject to the approval of the Exchange. Any participation by insiders will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
About Zimtu Capital Corp.
Zimtu Capital Corp. 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". For more information, please visit https://www.zimtu.com.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
"Sean Charland"
Sean Charland
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 NEWS RELEASE.
This news release contains forward‑looking statements, which include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking statements in this press release include the intended use of proceeds and that the Company aspires to achieve long-term capital appreciation for its shareholders.
These statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward‑looking information or statements. Important factors that could cause actual results to differ from these forward‑looking statements include, but are not limited to: risks associated with the business of the Company or the businesses of the companies that the Company has invested in, including, without limitation, the natural resource exploration industry; changes in commodity prices as the Company has investments in natural resource exploration issuers; changes in interest and currency exchange rates; geopolitical risk and social unrest; changes in general economic conditions or conditions in the financial markets; and economic, competitive, governmental, environmental and technological factors which may affect the Company's operations, investments, markets, products and share price; that the Company may not complete a further tranche of the Private Placement on terms favorable to the Company or at all; that the Exchange may not approve a further tranche of the Private Placement; and that the proceeds of the Private Placement may not be used as stated in this news release.
Except as required by law, the Company does not intend to revise or update these forward‑looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.
SOURCE: Zimtu Capital Corp.
View source version on accesswire.com:
https://www.accesswire.com/761847/Zimtu-Capital-Corp-Announces-Extension-to-Private-Placement
