Business
Zimtu Capital Corp. acquires securities of Lakeland Resources Inc.
Zimtu Capital Corp. acquires securities of Lakeland Resources Inc.
About this update from Zimtu Capital Corp.
[{"type":"text","content":"\n\n\n\n Aug. 18, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nVANCOUVER, Aug. 18 /CNW/ - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company" or "Zimtu") is pleased to announce that it has acquired 2,150,000 common shares of Lakeland Resources Inc. (TSXv: LK) (formerly Cats Eye Capital Corp.).\nEffective August 19, 2010, Lakeland Resources Inc. ("Lakeland") will commence trading on the TSX Venture Exchange as a Tier 2 Mining Issuer under the trading symbol "LK".\nLakeland acquired a 100% interest in the past-producing Camlaren Gold Project in the Northwest Territories for its qualifying transaction and is also reviewing additional project opportunities in the precious metals sector. Lakeland will be focused on gold exploration in Canada.\nZimtu's 2,150,000 common shares of Lakeland is equal to 14% of Lakeland's issued and outstanding share capital as of August 18, 2010. The common shares were acquired at a price of C$0.06 per share pursuant to a concurrent share sale with the former founders of Cats Eye as part of the successful completion of Lakeland's qualifying transaction and financing.\nZimtu's investment in Lakeland is consistent with the Company's strategy of making early-stage resource investments as well as creating and incubating companies to build value for shareholders. As a major shareholder, Zimtu will contribute to the future growth and development of Lakeland.\n\n\n >\n\nZimtu Capital Corp. is a TSX Venture listed investment company that invests in, creates and grows natural resource companies thereby providing a way for investors to participate and profit in the public company building process. The Company also provides mineral property advisory services helping to connect companies to properties of interest.\nZimtu Capital trades on the TSX Venture Exchange under the symbol "ZC" and the Frankfurt Stock Exchange under the symbol "ZCT1."\n\n\n >\n\n\n...