VANCOUVER, March 19 /CNW/ - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) ("the Company") announces that pursuant to a private placement transaction it has acquired 2,020,000 common shares of Discovery Harbour Resources Corp. ("Discovery") at a price of $0.10 for an aggregate subscription price of C$202,000.
Discovery is a private mineral exploration investment company founded by the principals of Western Potash Corp. (TSXv: WPX) and Zimtu Capital Corp. (TSXv: ZC). The President of Discovery is Ian Graham, an accomplished mining professional with over 20 years of experience in the discovery, evaluation and development of mineral deposits. Mr. Graham joined Discovery from Rio Tinto, where he was the Chief Geologist with Rio Tinto's Project Generation Group. Throughout Mr. Graham's career, he has been involved in the evaluation, exploration and development of numerous advanced stage projects in North America and abroad. Furthermore, Discovery's Executive VP, Michael J. Senn, is an experienced explorer with a track record of discovery. During his tenure with Kennecott / Rio Tinto (1980 - '97) Michael lead teams involved with the discoveries at the Diavik Diamond (NWT) and Eagle Deposits (MI) following a role as Regional & Project Exploration Manager for Kennecott's Flambeau Mining Group. He joined the Discovery team in November, 2009.
Discovery's mission is to create shareholder value through successful acquisitions of exceptional mineral properties through the employment of its technical expertise during the selection and exploration processes, through a thorough evaluation of the potential economics of these quality acquisitions, through assistance in the program's technical management and ultimately through the evolution of new technical successes into economically viable projects by employing its development experience.
Zimtu's investment in Discovery is consistent with the Company's strategy of making early stage (pre-ipo) resource investments not normally available to the public as well as creating and incubating companies to build value for shareholders. The Company also provides mineral property advisory services helping to connect companies to properties of interest.
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About Zimtu Capital Corp.
Zimtu Capital Corp. is a TSX Venture listed investment company that invests in, creates, and grows natural resource companies thereby providing a way for investors to participate and profit in the public company building process. The Company also provides mineral property advisory services helping to connect companies to properties of interest.
For more information, please visit our website at http://www.zimtu.com.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
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 Discovery's mission is to create shareholder value through successful acquisitions of exceptional mineral properties through the employment of its technical expertise during the selection and exploration processes, through a thorough evaluation of the potential economics of these quality acquisitions, through assistance in the program's technical management and ultimately through the evolution of new technical successes into economically viable projects by employing its development experience.
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.
SOURCE Zimtu Capital Corp.
For further information: For further information: David Hodge, President & Director, Phone: (604) 681-1568, Fax: (604) 681-8240, Email: firstname.lastname@example.org