VANCOUVER, BC / ACCESSWIRE / January 18, 2022 / Zimtu Capital Corp. (TSXv:ZC)(FSE:ZCT1) (the "Company" or "Zimtu") announces it has increased its previously announced non-brokered private placement offering (the "Private Placement") where the Company shall be offering for sale units of the Company up to 10,000,000 units (the "Units") at a price of $0.20 per Unit, for gross proceeds of up to $2,000,000. Each Unit will be comprised of one common share in the capital of the Company (each, a "Share") and one non-transferable share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one additional Share in the capital of the Company (each, a "Warrant Share") for a period of 24 months from the closing date at an exercise price of $0.30.
Finder's fees or brokers' commissions may be paid in accordance with TSX Venture Exchange ("TSXV") policies.
All securities will be subject to a four-month hold period from the closing date. The Private Placement is subject to TSXV approval.
The Company intends to use the proceeds from the Private Placement for working capital in its company creation process.
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.
President & Director
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 information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include expectations of raising funds and regarding use of proceeds of the Private Placement. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the TSXV may not approve the Private Placement; there may not be interested subscribers; the proceeds of the Private Placement may not be used as stated in this press release; and that the parties may be unable to satisfy all of the conditions to closing the Private Placement. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
SOURCE: Zimtu Capital Corp.
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