Business
Zimtu Capital Corp. Closes Second Tranche of 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. Closes Second Tranche of Private Placement Offering of UnitsNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / July 17, 2023 / Zimtu Capital Corp. (TSXv:ZC)(FSE:ZCT1) (the \"Company\" or \"Zimtu\") announces that it has completed its second tranche of its previously announced non-brokered private placement offering (the \"Private Placement\") of units (the \"Units\"), as described in its news releases dated March 14, 2023, May 2, 2023, May 16, 2023 and June 16, 2023. In the second tranche, the Company issued 2,312,500 Units at a price of $0.08 per Unit for gross proceeds of $185,000. Each Unit consists 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 is exercisable into one additional Share (a \"Warrant Share\") at a price of $0.10 per Warrant Share for a period of three years from the closing date.The securities issued under the Private Placement, and the Warrant Shares that may be issuable on exercise of the Warrants, are subject to a statutory hold period expiring on November 15, 2023.The Company intends to use the net proceeds from the Private Placement 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 Company further announces that the TSX Venture Exchange (the \"Exchange\") has granted a four week extension to the Company for completion of a further tranche of its Private Placement.About Zimtu Capital Corp.Zimtu Capital Corp. is a public investment issuer that aspires to achieve long-term capital appreciation for its shareholders. Zimtu Capital companies may operate in the fields of mineral exploration, mining, technology, life sciences or investment. The Company trades on the TSX Venture Exchange under the symbol \"ZC\" and Frankfurt under symbol \"ZCT1\". For more information, please visit https://www.zimtu.com.On Behalf of the Board of DirectorsZIMTU CAPITAL CORP.\"Sean Charland\"Sean CharlandPresident & DirectorPhone: 604.681.1568NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEF...