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Zimtu Capital Corp. Signs Agreement to Sell Copperline Property to Star Copper Corp. & Announces Board Update
VANCOUVER, BC / ACCESS Newswire / July 16, 2025 / Zimtu Capital Corp. (TSXV:ZC)(FSE:ZCT1) ("...
About this update from Zimtu Capital Corp.
[{"type":"text","content":"Zimtu Capital Corp. Signs Agreement to Sell Copperline Property to Star Copper Corp. & Announces Board UpdateVANCOUVER, BC / ACCESS Newswire / July 16, 2025 / Zimtu Capital Corp. (TSXV:ZC)(FSE:ZCT1) (\"Zimtu\" or the \"Company\") is pleased to announce that it has signed a definitive agreement dated July 14, 2025 with Star Copper Corp. (CSE:STCU)(OTC:STCUF)(FWB:SOP) (\"Star\") for the sale of a 100% interest in the Copperline Property (\"Copperline\" or the \"Property\"), located in north-central British Columbia (the \"Transaction\").The Copperline Property comprises seven mineral claims totaling approximately 2,687 hectares. It is located near Skutsil Knob at the southern end of the Driftwood Range, approximately 120 km north-northeast of Smithers, British Columbia.Transaction Terms:Under the terms of the agreement, Zimtu will receive the following consideration from Star Copper:the sum of CDN$100,000 in cash on signing of the agreement and $250,000 in cash 6 months from signing (\"Cash Consideration),Issue to the Vendor an aggregate 200,000 common shares on signing of the agreement and 300,000 common shares 6 months from signing (\"Share Consideration), andPay the Vendor $1,500,000 (the \"Bonus\"), consisting of $750,000 in cash (\"Bonus cash\") and $750,000 in common shares (\"Bonus shares\") the completion of a favourable Preliminary Economic Assessment (\"PEA\").the Purchaser shall grant a two percent (2.0%) royalty on returns from the commercial production of mineral projects from the Property to the Vendor, (the \"NSR Royalty\"). The NSR Royalty shall be freely assignable by the Vendor, upon written approval of the Purchaser, and one-half (1.0%) of the NSR Royalty may be purchased at any time within 5 years of the effective date for a cash payment of $1,000,000 to the Vendor.No finder's fees will be paid in connection with the Transaction. The Transaction involves Non-Arm's Length Parties, as such term is defined in Policy 5.3 of the TSX Venture Exchange (the \"Exchange\"), as Sean Charland is a director of Zimtu and Star and Jody Bellefleur is the Chief Financial Officer of Zimtu and Star. Closing will be subject to, among other conditions, Zimtu obtaining approval for the Transaction from the Exchange.Board UpdateThe Company also announces the resignation of Chris Grove from the board of directors. The Company thanks M...