Offering will fund exploration and development of resource properties
By Devika Patel
Knoxville, Tenn., July 24 – Zimtu Capital Corp. said it raised C$198,262 in the second and final tranche of its C$498,287 private placement of stock and units. Secutor Capital Management Corp. and Marquest Capital Markets were the lead agents for the deal, which priced for C$1 million on April 29 and was amended on June 5. The company raised C$300,025 on June 12.
The company sold 1,370,850 flow-through common shares at C$0.265 apiece and units of one common share and one warrant at C$0.255 per unit. It sold 1,132,170 shares in the initial tranche and 238,680 shares in the second tranche. The company sold 529,456 units in the second tranche.
Each two-year warrant is exercisable at C$0.30, a 15.39% premium to the April 28 closing share price of C$0.26. The price per share is a 1.92% premium 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.
|
| Issue: | Flow-through common shares, units of one common share and one warrant
|
| Amount: | C$498,287
|
| Agents: | Secutor Capital Management Corp. and Marquest Capital Markets (leads)
|
| Pricing date: | April 29
|
| Amended: | June 5
|
| Settlement dates: | June 12 (for C$300,025), July 24 (for C$198,262)
|
| Stock symbol: | TSX Venture: ZC
|
| Stock price: | C$0.26 at close April 28
|
| Market capitalization: | C$3.24 million
|
|
|
| Shares
|
| Amount: | C$363,275
|
| Shares: | 1,370,850
|
| Price: | C$0.265
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$135,011
|
| Units: | 529,456
|
| Price: | C$0.255
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
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