Offering will fund exploration and development of resource properties
By Devika Patel
Knoxville, Tenn., April 29 – Zimtu Capital Corp. said it will raise C$1 million in a private placement of stock and units, with a 20% greenshoe on the units portion. Secutor Capital Management Corp. and Marquest Capital Markets are the lead agents.
The company will sell flow-through common shares at C$0.325 apiece and units of one common share and one warrant at C$0.30 per unit. Each two-year warrant will be exercisable at C$0.40 in the first 18 months, C$0.30 in the 19th month through expiration.
The price per share is a 25% premium to the April 28 closing share price of C$0.26. The strike prices are 53.85% and 15.39% premiums to that price.
Proceeds will be used for exploration and development of resource properties and general working capital.
Zimtu Capital is an investment company based in Vancouver, B.C.
| Issuer: | Zimtu Capital Corp.
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| Issue: | Flow-through common shares, units of one common share and one warrant
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| Amount: | C$1 million
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| Agent: | Secutor Capital Management Corp. and Marquest Capital Markets (leads)
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| Pricing date: | April 29
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| Stock symbol: | TSX Venture: ZC
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| Stock price: | C$0.26 at close April 28
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| Market capitalization: | C$3.91 million
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| Shares
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| Price: | C$0.325
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| Warrants: | No
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| Units
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| Greenshoe: | 20%
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| Price: | C$0.30
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.40 in the first 18 months, C$0.30 in the 19th month through expiration
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