VANCOUVER, June 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 1,030,000 common shares ("Common Shares") and 1,030,000 common share purchase warrants (the "Warrants") of Trivello Energy Corp. (TSXv: TRV) (FSE: T6U1) ("Trivello"). Each Warrant entitles the holder to acquire one common share of Trivello at a price of $0.10 until June 8, 2012. The Common Shares are in addition to the 1,000,000 common shares Zimtu acquired in connection with the Tom Mine Property transaction that was recently completed with Trivello.
Zimtu now holds an aggregate of 4,883,000 common shares of Trivello, which is equal to 19.90% of Trivello's issued and outstanding share capital as at June 8, 2010. In the event that all of Trivello's warrants are fully exercised, Zimtu will hold a total of 6,413,000 common shares of Trivello, or approximately 17.83% of the issued and outstanding common shares.
Zimtu's investment in Trivello is consistent with the Company's strategy of making early stage resource investments as well as creating and incubating companies to build value for our shareholders. As a major shareholder, Zimtu will contribute to the reformation and future growth and development of Trivello.
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.
Zimtu Capital trades on the TSX-Venture Exchange under the symbol "ZC" and the Frankfurt Stock Exchange under the symbol "ZCT1." For more information please visit the corporate website at http://www.zimtu.com or contact:
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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 the exercise of all of the warrants of Trivello Energy Corp.; that Zimtu's investment in Trivello is consistent with its strategy in the creation and incubation of companies to build shareholder value; that Zimtu will contribute to the reformation and future growth and development of Trivello; that Zimtu invests in, creates, and grows natural resource companies; and that Zimtu provides mineral property advisory services to help connect companies to 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: For further information: Kevin Bottomley, Shareholder Services, TF: 1.877.377.6222, T: 604.681.1568, Email: email@example.com