Sale funds prospect generation, company building and working capital
By Devika Patel
Knoxville, Tenn., June 18 – Zimtu Capital Corp. said it revised the terms of a private placement of units to raise C$1 million on Tuesday. The deal priced for C$2 million with a 20% greenshoe on April 4 and was to have been conducted by a syndicate of agents led by Secutor Capital Management Corp., but will now be non-brokered.
The company will now sell 2 million units of one common share and one warrant at C$0.50 per unit.
Each warrant will be exercisable at C$0.75 for two years. The strike price reflects a 25% premium to the April 3 closing share price of C$0.60.
Proceeds will be used for prospect generation, company building and general working capital.
Zimtu Capital is an investment company based in Vancouver, B.C.
| Issuer: | Zimtu Capital Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 2 million
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Agents: | Non-brokered
|
| Pricing date: | April 4
|
| Amended: | June 17
|
| Stock symbol: | TSX Venture: ZC
|
| Stock price: | C$0.60 at close April 3
|
| Market capitalization: | C$6.76 million
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
