VANCOUVER, Nov. 17, 2015 /CNW/ - Zimtu Capital Corp. (TSXv: ZC; FSE: ZCT1) (the "Company" or "Zimtu") proposes to sell a total of up to 3,939,087 common shares of Electra Stone Ltd. ("Electra") at a price of $0.02 or higher through a private of sale of 1,500,000 common shares at $0.02 and the balance of up to 2,439,087 through the facilities of the TSX Venture Exchange.
Zimtu currently owns 11,628,823 common shares of Electra Stone Ltd. ("Electra") or 19.69% of the current issued and outstanding capital of 59,060,463 common shares. The Zimtu management group comprised of its directors, and officers own directly an additional 6,154,600 common shares of Electra or 10.42% of the issued and outstanding capital. Together Zimtu and the management group hold a total of 17,784,423 or 30.11% of the issued and outstanding share capital of Electra.
If Zimtu completes the proposed sale of up to 3,939,087 common shares, its direct ownership would be 7,690,736 or 13% of the issued and outstanding share capital of Electra, or Zimtu together with the management group would hold 13,845,336 or 23.44% of the issued and outstanding shares of Electra.
These securities were acquired for investment purposes only. Zimtu intends to evaluate the investment and to increase or decrease holdings as circumstances warrant.
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. The Company also provides mineral property project generation and advisory services helping to connect companies to properties of interest.
Zimtu Capital trades on the TSX Venture Exchange under the symbol "ZC" and the Frankfurt Stock Exchange under the symbol "ZCT1". For more information visit http://www.zimtu.com.
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.
SOURCE Zimtu Capital Corp.
For further information: David Hodge, President & Director, Phone: 604.681.1568