Zimtu Capital Corp. Announces Position in Sceptre Ventures Inc.

Rhea-AI Summary

Zimtu Capital Corp. announced on July 27, 2022, the acquisition of 4,302,626 common shares of Sceptre Ventures Inc., constituting 35.83% of the issued shares, through a debt settlement totaling $258,157.57. Prior to this transaction, Zimtu owned no securities of Sceptre Ventures. The company intends to hold these shares for investment purposes and may consider acquiring more or disposing of them based on market conditions.

Positive

• Acquisition of 4,302,626 shares of Sceptre Ventures, increasing ownership to 35.83%.
• Transaction valued at $258,157.57, demonstrating strategic investment.
• Zimtu now holds a significant minority stake in Sceptre Ventures.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / August 3, 2022 / Zimtu Capital Corp. (TSXV:ZC) (FSE:ZCT1) (the "Company" or "Zimtu") announces on July 27, 2022 that Zimtu acquired (the "Transaction") an aggregate of 4,302,626 common shares (each, a "Share") of Sceptre Ventures Inc. ("Sceptre Ventures") pursuant to a debt settlement of an aggregate of $258,157.57 owed to Zimtu.

Prior to the Transaction, Zimtu owned and controlled nil securities of the Company. Following the Transaction, Zimtu directly owns and controls 4,302,626 Shares, representing 35.83% of the issued and outstanding Shares as at July 27, 2022 (based on 12,008,278 Shares issued and outstanding as of such date).

Zimtu holds securities of the Company for investment purposes. Depending on economic or market conditions or matters relating to the Company, Zimtu may choose to either acquire additional securities or dispose of securities of the Company.

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 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 TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

SOURCE: Zimtu Capital Corp.

View source version on accesswire.com:
https://www.accesswire.com/710771/Zimtu-Capital-Corp-Announces-Position-in-Sceptre-Ventures-Inc

FAQ

What did Zimtu Capital Corp. announce on August 3, 2022?

Zimtu Capital Corp. announced the acquisition of 4,302,626 common shares of Sceptre Ventures Inc. through a debt settlement.

What percentage of Sceptre Ventures Inc. does Zimtu now own?

Zimtu now owns 35.83% of the issued and outstanding shares of Sceptre Ventures Inc.

How much was the debt settlement for Zimtu's acquisition of Sceptre shares?

The debt settlement was valued at $258,157.57.

What does Zimtu intend to do with its shares in Sceptre Ventures?

Zimtu intends to hold the shares for investment purposes and may acquire more or dispose of them based on market conditions.