VANCOUVER, May 10 /CNW/ - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company" or "Zimtu") is pleased to announce that pursuant to a private placement transaction it has acquired 3,000,000 common shares of Camisha Resources Corp. ("Camisha") at a price of $0.05 for an aggregate subscription price of $150,000.
Camisha is a Capital Pool Company ("CPC") within the meaning of the policies of the TSX Venture Exchange. Camisha is in the process of completing their Initial Public Offering ("IPO") of 6,000,000 common shares at $0.10 and obtaining their listing on the TSX Venture Exchange. Upon completion of the IPO, Zimtu will own 26.79% of the issued and outstanding common shares of Camisha.
As a major shareholder, Zimtu will assist Camisha in finding a suitable Qualifying Transaction. Zimtu is exposed to various opportunities and continues to evaluate prospective resource properties.
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.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
President & Director
Phone: (604) 681 1568
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 Camisha is in the process of completing their IPO and obtaining their listing on the TSX Venture Exchange, that upon completion of the IPO, Zimtu will own 26.79% of the issued and outstanding common shares of Camisha, and that Zimtu will assist Camisha in finding a suitable Qualifying Transaction.
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: Kevin Bottomley, Shareholder Services, Phone: (604) 681-1568, Email: email@example.com