Zimtu Capital Corp. announces transaction with Strike Graphite Corp. for diamond properties in Saskatchewan, Canada
VANCOUVER, May 26, 2014 /CNW/ - Zimtu Capital Corp. (TSXv: ZC; FSE: ZCT1) (the "Company" or "Zimtu") is pleased to announce that the Company and one of its prospecting partners are party to an agreement with Strike Graphite Corp. (TSXv: SRK) ("Strike Graphite") whereby Strike Graphite can earn an 80%-interest in approximately 1.25 million acres of mineral claims located within east-central Saskatchewan. The claims are located in the emerging diamond district established by the recent discovery of diamondiferous kimberlite within the Pikoo Property by North Arrow Minerals Inc. and Stornoway Diamond Corp.
For its participation in the transaction, Zimtu will receive from Strike Graphite 1,000,000 common shares at a deemed value of $0.05 per common share and 200,000 non-transferable common share purchase warrants at $0.25 per common share for a three year period. In addition, Zimtu will retain a Royalty Interest of 0.265% of Gross Revenue and will be granted a carried working interest in the property.
As part of Zimtu's business, the Company provides mineral property project generation and advisory services and helps to connect companies with mineral properties of interest.
About Zimtu Capital Corp.
Zimtu Capital Corp. is a public investment issuer that invests in, creates and grows natural resource companies thereby providing a way for shareholders to indirectly participate and profit in the public company building process.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
President & Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future.
Forward-looking statements in this news release include that Strike Graphite can earn an 80%-interest in the mineral claims located in Saskatchewan, Canada; that in consideration for its interest, Zimtu will receive a share payment from Strike Graphite, and that Zimtu will retain a royalty on the Properties.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
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