/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./
VANCOUVER, June 17, 2014 /CNW/ - Zimtu Capital Corp.
(TSXv: ZC) (FSE: ZCT1) (the "Company" or "Zimtu") announces that it
has revised the terms of the private placement financing (the
"Offering") it previously announced by News Release dated
April 4, 2014.
The revised terms of the Offering provide for the issuance of up
to 2,000,000 units (each, a "Unit") at a price of $0.50 per Unit for gross proceeds of up to
$1,000,000. Each Unit will consist of
one common share of the Company (each, a "Share") and one
non-transferable common share purchase warrant (each, a "Warrant"),
with each Warrant entitling the holder to acquire one Share (each,
a "Warrant Share") at a price of $0.75 per Warrant Share for a period of 24 months
from the closing of the Offering but subject to an acceleration
clause.
In addition, the revised terms of the Offering provide that
Secutor Capital Management Corporation ("Secutor") will not act as
agent to the Offering. Although the Offering will be non-brokered,
the Company may pay a finder's fees in accordance with the rules
and policies of the TSX Venture Exchange (the "Exchange"),
consisting of: (i) a cash finder's fee equal to up to 8% of the
Units and (ii) the issuance of finder's warrants in an
amount equal to up to 8% of the Units. Each finder's warrant shall
entitle the holder to acquire one warrant share at a price of
$0.50 per warrant share for a period
of 24 months from the closing of the Offering.
All securities issued in the Offering will be subject to a
statutory hold period expiring four months and one day after
closing of the Offering. Completion of the Offering is subject to a
number of conditions, including, without limitation, receipt of all
regulatory approvals, including approval of the Exchange.
The Company intends to use the proceeds from the Offering for
prospect generation, company building and general working
capital.
None of the securities sold in connection with the Offering will
be registered under the U.S. Securities Act of 1933, as amended,
and may not be offered or sold in the
United States absent registration or an applicable exemption
from the registration requirements. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
About Zimtu Capital Corp.
Zimtu Capital Corp. is a
public investment issuer that invests in, creates and grows natural
resource companies thereby providing a way for shareholders to
indirectly participate and profit in the public company building
process. The Company also provides mineral property project
generation and advisory services helping to connect companies to
properties of interest.
Zimtu trades on the Exchange under the symbol "ZC" and the
Frankfurt Stock Exchange under the symbol "ZCT1".
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 TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Statements in this document which are not purely historical
are forward-looking statements, including any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Forward looking statements in this news release include that the
company will successfully raise $1 million
dollars; finders' commissions will be payable;
securities will be issuable; expectations of management regarding
use of proceeds of the Offering; closing conditions of the
Offering; the expiry of hold periods for securities
distributed pursuant to the Offering; Exchange approval of the
proposed Offering; and any other future event related to the
proposed Offering.
It is important to note that actual outcomes and the
Company's actual results could differ materially from those in such
forward-looking statements. Risks and uncertainties include, but
are not limited to, economic, competitive, governmental,
environmental and technological factors that may affect the
Company's operations, markets, products and prices; the
Exchange may not approve the Offering; the proceeds of the Offering
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 Offering. Readers should refer to the risk disclosures
outlined in the Company's Management Discussion and Analysis of its
audited financial statements and other continuous disclosure
documents filed under the Company's profile on SEDAR
(http://www.sedar.com).
SOURCE Zimtu Capital Corp.