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.
|
Issue: | Flow-through common shares, units of one common share and one warrant
|
Amount: | C$1 million
|
Agent: | Secutor Capital Management Corp. and Marquest Capital Markets (leads)
|
Pricing date: | April 29
|
Stock symbol: | TSX Venture: ZC
|
Stock price: | C$0.26 at close April 28
|
Market capitalization: | C$3.91 million
|
|
Shares
|
Price: | C$0.325
|
Warrants: | No
|
|
Units
|
Greenshoe: | 20%
|
Price: | C$0.30
|
Warrants: | One warrant per unit
|
Warrant expiration: | Two years
|
Warrant strike price: | C$0.40 in the first 18 months, C$0.30 in the 19th month through expiration
|
|
|
© 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.