Zimtu Capital Corp. Announces Shareholder Approval of Equity Incentive Plan

Rhea-AI Summary

Zimtu Capital Corp. announced that its equity incentive plan was approved by shareholders during the annual general meeting held on July 13, 2022. The plan allows for the issuance of shares that do not exceed 20% of the company's outstanding shares as of June 6, 2022, totaling 5,239,796 common shares. This initiative aims to enhance long-term capital appreciation for its shareholders, as Zimtu operates in various sectors, including mineral exploration, technology, and life sciences.

Positive

• Shareholder approval of the equity incentive plan can enhance employee motivation and retention.
• The plan's structure promotes long-term capital appreciation for shareholders.

Negative

• None.

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VANCOUVER, BC / ACCESSWIRE / September 14, 2022 / Zimtu Capital Corp. (TSXv:ZC) (FSE:ZCT1) (the "Company" or "Zimtu") is pleased to announce that at the Company's annual general and special shareholder's meeting held on July 13, 2022, the shareholders approved the Company's equity incentive plan (the "Plan"). The board of directors approved the Plan on June 8, 2022, subject to regulatory and shareholder approval.

The Plan is a "fixed" plan, such that the aggregate number of common shares that may be issued upon the exercise or settlement of stock options, as well as restricted share units, performance share units or deferred share units, shall not exceed, in the aggregate, 20% of the Company's issued and outstanding shares as of June 6, 2022, such number being 5,239,796.

A copy of the Plan was appended to the Company's management information circular dated June 10, 2022, and is available under the Company's profile on SEDAR.

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/715993/Zimtu-Capital-Corp-Announces-Shareholder-Approval-of-Equity-Incentive-Plan

FAQ

What is Zimtu Capital Corp.'s recent shareholder meeting outcome regarding the equity incentive plan?

Zimtu Capital Corp.'s shareholders approved the equity incentive plan during the annual meeting on July 13, 2022.

How many shares can be issued under Zimtu Capital Corp.'s approved equity incentive plan?

The equity incentive plan allows for the issuance of up to 5,239,796 common shares, which is 20% of the company's outstanding shares as of June 6, 2022.

When was the equity incentive plan approved by Zimtu Capital Corp.'s board of directors?

The board of directors approved the equity incentive plan on June 8, 2022.

Where can I find more information about Zimtu Capital Corp.'s equity incentive plan?

More information about the equity incentive plan is available under the company's profile on SEDAR and was also appended to the management information circular dated June 10, 2022.

What sectors does Zimtu Capital Corp. operate in?

Zimtu Capital Corp. operates in mineral exploration, mining, technology, life sciences, and investment sectors.