Zimtu Capital Corp. Updates Private Placement Offering of Units

About this update from Zimtu Capital Corp.

[{"type":"text","content":"Zimtu Capital Corp. Updates Private Placement Offering of UnitsVANCOUVER, BC / ACCESSWIRE / February 13, 2023 / Zimtu Capital Corp. (TSXV:ZC); (FSE:ZCT1) (the \"Company\" or \"Zimtu\") wishes to announce that, further to its news release dated January 25, 2023, it has reduced its proposed non-brokered private placement offering of units (the \"Units\") from 14,285,714 Units to 12,142,857 Units at a price of $0.07 per Unit to raise gross proceeds of up to $850,000 (the \"Offering\"). Each Unit will be comprised 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 will entitle the holder to purchase one additional Share in the capital of the Company (each, a \"Warrant Share\") for a period of five (5) years from the closing date at an exercise price of $0.09.Pursuant to its news release dated January 25, 2023, the Company originally intended to raise gross proceeds of up to $1,000,000, the net proceeds of which were to be used, in part, for certain investments. The Company has decided to defer or reduce the size of certain of its planned investments and, as a result, the amount to be raised pursuant to the Offering has been reduced to $850,000. The net proceeds of the Offering will be used specifically for general and administrative expenditures, audit expenses and certain investment commitments.The Offering is subject to approval of the TSX Venture Exchange (the \"Exchange\"). All securities will be subject to a hold period of four months and one day from the closing date of the Offering. The Offering is expected to close on or after February 20, 2023, and may close in one or more tranches.Finder's fees or brokers' commissions comprised of cash and / or securities of the Company may be paid in connection with the Offering, in accordance with Exchange policies.All subscribers in the Offering will be \"accredited investors\", as such term is defined in National Instrument 45-106 - Prospectus Exemptions. None of the subscribers will be Non-Arm's Length Parties, as such term is defined in Exchange Policy 1.1.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, mini...

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