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Zimtu Capital Corp. Announces Private Placement Offering of Units
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Zimtu Capital Corp.
[{"type":"text","content":"Zimtu Capital Corp. Announces Private Placement Offering of UnitsNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / March 14, 2023 / Zimtu Capital Corp. (TSXV:ZC)(FSE:ZCT1) (the \"Company\" or \"Zimtu\") announces a non-brokered private placement offering (the \"Offering\") of up to 18,750,000 units (the \"Units\") at a price of $0.08 per Unit for gross proceeds of up to $1,500,000. 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 three (3) years from the closing date at an exercise price of $0.10.The Offering is expected to close on or before April 12, 2023. The Offering is not subject to a minimum amount, and the maximum gross proceeds of the Offering is $1,500,000. All securities will be subject to a hold period of four months and one day from the closing date of the Offering. It is anticipated that, assuming that the maximum amount is raised, approximately $1,200,000 of the net proceeds will be used for proposed investments, including, without limitation, investments in businesses engaged in oil & gas and mineral exploration and specific property acquisitions. The Company may also use certain of the net proceeds for working capital purposes.The Offering is subject to approval of the TSX Venture Exchange (the \"Exchange\"). Finder's fees or brokers' commissions comprised of cash and / or securities of the Company may be paid in connection with the Offering, in accordance with Exchange policies.The Offering will be conducted pursuant to available prospectus exemptions, including issuances to accredited investors, close personal friends and close business associates of directors and officers of the Company and to existing shareholders of the Company pursuant to the exemption set out in BC Instrument 45-534 (the \"Existing Shareholder Exemption\"). Shareholders of record of the Company as of March 13, 2023 (the \"Record Date\") are eligible to participate under the Existing Shareholder Exemption. In order to rely on the Existing Shareholder Exemption, the subscriber; (a) must have been a shar...