Zimtu Capital Corp. announces closing of private placement

About this update from Zimtu Capital Corp.

[{"type":"text","content":"\n\nVANCOUVER, July 14, 2014 /CNW/ - Zimtu Capital Corp. (TSXV: ZC) (FSE: ZCT1) (the \"Company\" or \"Zimtu\") announces that it has closed the non-brokered private placement financing (the \"Offering\") it previously announced by News Releases dated April 4, 2014 and June 17, 2014.\n\nThe Company issued 2,228,690 units (\"Unit\") at a price of $0.50 per Unit for gross proceeds of $1,114,345. Each Unit consists of one common share of the Company (\"Share\") and one non-transferable common share purchase warrant (\"Warrant\"), with one Warrant entitling the holder to acquire one additional Share (\"Warrant Share\") at a price of $0.75 per Warrant Share until July 11, 2016.\n\nThe Company paid cash finders' fees to certain finders in the aggregate amount of $29,840 and issued 59,680 warrants (the \"Finders' Warrants\") exercisable into Shares (\"Finders' Warrant Shares\") until July 11, 2016 at a price of $0.50 per Finders' Warrant Share.\n\nThe Warrants and the Finders' Warrants are subject to an acceleration clause.  If on any 20 consecutive trading days following July 11, 2014, the closing sales price of the Shares as quoted on the TSX Venture Exchange (the \"TSXV\") is greater than 150% of the exercise price, the Company may accelerate the expiry date of the Warrants or Finders' Warrants to the 30th day after the date on which the Company gives such notice to the warrant holder.\n\nAll securities issued in the Offering will be subject to a statutory hold period expiring November 12, 2014. \n\nThe Company intends to use the proceeds from the Offering for prospect generation, company building and general working capital.\n\nNone 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.\n\nAbout 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...

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