VANCOUVER, Jan. 6 /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 have signed an agreement with Canada Gas
Corp. (TSXv: CJC; FSE: YXEN; OTC-BB: CJCFF) ("Canada Gas") whereby
Canada Gas can earn a 100% interest in and to the Goeland Rare Earth
Property located 215 km north of Val d'Or in the Abitibi region of
For its participation in the transaction, Zimtu will receive $12,500
cash on signing and staged share payments totaling 1,250,000 common
shares over a 36 month period. Zimtu's partner, Glenn Griesbach will
receive cash and share consideration equal to that of Zimtu. The
vendors will retain a 2% Net Smelter Royalty on the properties. The
transaction is subject to acceptance by the TSX Venture Exchange
("TSXv"). A finders fee in accordance with TSXv policies will be
payable for the transaction.
The Goeland Property is accessible via a network of logging roads and
consists of 47 mining claims encompassing approximately 2,585 hectares
within and adjacent to the Montviel Carbonatite Complex. Historic
exploration at Montviel has revealed strong potential for rare earth
element ("REE"), niobium and phosphate mineralization.
The principal exploration target for the property is carbonatite hosted
REE mineralization, similar to Commerce Resources' (TSXv: CCE; FSE:
D7H) Ashram REE Zone at the Eldor Property, northern Quebec or the ST1
REE Zone at Hudson Resources' (TSXv: HUD) Sarfartoq Property in
The project was acquired by the Company and its partner by staking and
was acquired for project generation. Zimtu will continue to evaluate
and acquire prospective resource properties to make available for sale
or joint venture. As part of the Company's business, Zimtu provides
mineral property advisory services and helps to connect companies with
mineral properties of interest.
For additional information on our mineral property advisory services and
available opportunities, contact Ryan Fletcher, Corporate Development
and Director at 604.681.1568 or via email at email@example.com.
About Zimtu Capital Corp.
Zimtu Capital Corp. 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 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."
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 Zimtu will
receive staged cash and share payments totaling $12,500 and 1,500,000
common shares over a 36 month period on acceptance by the TSX Venture
Exchange for the Goeland Property; that Glenn Griesbach will receive
cash and share consideration equal to that of Zimtu; that the vendors
will retain a 2% NSR on the property; that Zimtu will continue to
evaluate and acquire prospective resource properties to make available
for sale or joint venture; and that Zimtu provides mineral property
advisory services and helps to connect companies with mineral
properties of interest.
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:
please visit the corporate website at http://www.zimtu.com or contact:
Toll Free: 1.877.377.6222