Offering will fund exploration and development of resource properties
By Devika Patel
Knoxville, Tenn., June 5 – Zimtu Capital Corp. said amended the terms of its C$1 million private placement of stock and units. Secutor Capital Management Corp. and Marquest Capital Markets are the lead agents for the deal, which has a 20% greenshoe on the units portion and priced on April 29.
The company will now sell flow-through common shares at C$0.265 apiece and units of one common share and one warrant at C$0.255 per unit. Each two-year warrant will now be 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.
The company previously planned to sell the stock at C$0.325 per share, the units at apiece, with the warrants exercisable C$0.40 in the first 18 months, C$0.30 in the 19th month through expiration.
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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| Amended: | June 5
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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$0.265
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| Warrants: | No
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| Units
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| Greenshoe: | 20%
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| Price: | C$0.255
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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$0.30
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