Business
ZIMTU CAPITAL CORP. ANNOUNCES PROPERTY TRANSACTION
ZIMTU CAPITAL CORP. ANNOUNCES PROPERTY TRANSACTION
About this update from Zimtu Capital Corp.
[{"type":"text","content":"\n\n\n\n Dec. 8, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Dec. 8 /CNW/ - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1)\n (the "Company" or "Zimtu") is pleased to announce that the Company and\n one of its prospecting partners have signed an agreement with Upper\n Canyon Minerals Corp. (TSXv: UCM) ("Upper Canyon") whereby Upper Canyon\n can earn a 100% interest in two claim groups, the Sul and Sud,\n prospective for base and precious metals located 15 kilometres\n northeast of Creston, British Columbia.\n\n\nFor its participation in the transaction, Zimtu will receive staged cash\n and share payments totaling $10,000 and 2,000,000 common shares over a\n 24 month period.  Zimtu's partner, 877384 Alberta Ltd. will receive\n cash and share consideration equal to that of Zimtu. The vendors will\n retain a 2% Net Smelter Royalty ("NSR") on the properties. The\n transaction is subject to acceptance by the Toronto Venture Exchange\n ("TSXv"). A finders fee in accordance with TSXv policy will be payable\n for the transaction.\n\n\nThe two properties encompass 18 claims totaling 9,456 hectares and are\n adjacent to the Iron Range Project currently being explored by\n Providence Capital Corp. (TSXv: PV) and Eagle Plains Resources Ltd.\n (TSXv: EPL). The projects were acquired by the Company and its partner\n by staking and were acquired for project generation. Zimtu will\n continue to evaluate and acquire prospective re...