ZIMTU CAPITAL CORP. ANNOUNCES RARE EARTH ELEMENT PROPERTY TRANSACTION WITH ELECTRIC METALS INC.

About this update from Zimtu Capital Corp.

[{"type":"text","content":"\n\n\n Apr. 20, 2011 (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, April 20 /CNW/ - Zimtu Capital Corp. (TSXV: ZC) (FSE: ZCT1)\n (the "Company" or "Zimtu") is pleased to announce that the Company and\n three prospecting partners have signed an agreement with Electric\n Metals Inc. (TSXV: EMI) ("Electric") whereby Electric can earn a 100%\n interest in eight rare earth element ("REE") properties located in the\n Abitibi region of Quebec near Geomega's (TSXV: GMA) Montviel REE\n Property. The properties are referred to collectively as the "Abitibi\n Claims."\n\n\nFor its participation in the transaction, Zimtu will receive staged cash\n and share payments from Electric as follows: (i) $2,500 on signing\n (received); (ii) $10,000 and 500,000 common shares on acceptance by the\n TSX Venture Exchange ("TSXv"); (iii) $18,750 and 500,000 on the first\n anniversary of TSXv acceptance; and (iv) $31,250 and 375,000 on the\n second anniversary. Zimtu's three prospecting partners will each\n receive cash and share considerations equal to that of Zimtu. The\n vendors will collectively retain a 2% Net Smelter Royalty on the\n properties; 1% of which can be purchased by Electric for $500,000.\n\n\nThe Abitibi Claims total 21,600 hectares (216 square kilometres) and\n cover most of the known syenite occurrences surrounding Geomega's\n Montviel syenite-carbonatite complex, which has recently produced\n results of 485 metres of ...

More updates from Zimtu Capital Corp.