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.
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Issue: | Units of one common share and one warrant
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Amount: | C$1 million
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Units: | 2 million
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Price: | C$0.50
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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$0.75
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Agents: | Non-brokered
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Pricing date: | April 4
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Amended: | June 17
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Stock symbol: | TSX Venture: ZC
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Stock price: | C$0.60 at close April 3
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Market capitalization: | C$6.76 million
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