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Zimtu Capital Corp. Signs Agreement to Sell Crystal Lake Copper Property to Discovery Energy Metals Corp.
VANCOUVER, BC / ACCESS Newswire / June 17, 2025 / Zimtu Capital Corp. (TSX.V:ZC)(FSE:ZCT1) (...
About this update from Zimtu Capital Corp.
[{"type":"text","content":"Zimtu Capital Corp. Signs Agreement to Sell Crystal Lake Copper Property to Discovery Energy Metals Corp.VANCOUVER, BC / ACCESS Newswire / June 17, 2025 / Zimtu Capital Corp. (TSX.V:ZC)(FSE:ZCT1) (\"Zimtu\" or the \"Company\") is pleased to announce that it has signed a definitive agreement with Discovery Energy Metals Corp. (CSE:DEMC)(OTCQB:DEMCF)(FRA:Q3Q0) (\"Discovery\") for the sale of a 100% interest in the Crystal Lake Copper Property (\"Crystal Lake\" or the \"Property\"), located in north-central British Columbia, approximately 34 kilometres south of Fort Fraser.Under the terms of the agreement, Zimtu will receive total consideration of CDN $200,000 in cash and 2,000,000 common shares of Discovery Energy Metals, with an additional CDN $200,000 in cash and 1,000,000 common shares payable upon the discovery of a qualifying drill intercept. Zimtu will also retain a 2% net smelter returns (NSR) royalty on the Property, of which 1% may be bought back by Discovery for CDN $1,000,000 within five years.Transaction Terms:CDN $100,000 in cash and 1,000,000 common shares of Discovery issued upon signing;An additional CDN $100,000 in cash and 1,000,000 common shares six months from signing;A bonus of CDN $200,000 in cash and 1,000,000 common shares payable upon the first drill intercept of 0.5% Cu over 100 metres (or equivalent);2% NSR royalty granted to Zimtu, with a 1% buyback right for CDN $1,000,000 within five years.All securities issued are subject to applicable hold periods and approval from the Canadian Securities Exchange and, if applicable, the TSX Venture Exchange.The Crystal Lake Copper Property comprises eight mineral claims covering approximately 5,283 hectares. The project is road accessible and benefits from nearby infrastructure including a CN rail line, power transmission lines, and a natural gas pipeline.Discovery Energy Metals will assume full ownership and future exploration efforts on the Property.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 htt...