VANCOUVER, Dec. 7 /CNW/ - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company" or "Zimtu") is pleased to announce that it has acquired 985,000 common shares and 200,000 common share purchase warrants (the "Warrants") of Brixton Metals Corp. (TSXv: BBB) ("Brixton").
Effective December 7, 2010, Brixton will commence trading on the TSX Venture Exchange as a Tier 2 Mining Issuer under the trading symbol "BBB" after completing a Qualifying Transaction ("QT") with Marksmen Capital Inc. ("Marksmen").
Zimtu's 985,000 common shares of Brixton is equal to 5% of Brixton's issued and outstanding share capital of 21,147,778. Zimtu owned 277,778 common shares of Brixton Metals Corp. ("PrivateCo") which have been exchanged on the basis of 1.8 Marksmen ("PubCo") shares for every one PrivateCo share held. The Company also purchased 200,000 Units of Brixton at a price of $0.25 per Unit as part of the concurrent financing and QT. Each Unit consisted of one common share and one share purchase warrant (the "Warrants"). Each Warrant is exercisable into one common share of Brixton at $0.40 for a period of 24 months from closing.
For its introduction which lead to the successful completion of Brixton's QT, Zimtu will also receive a finder's fee of 285,000 common shares.
Brixton is engaged in the acquisition and exploration of precious metals assets. Brixton's management is focused on advancing large-scale deposits to feasibility and the company's portfolio is comprised of two properties: Thorn in British Columbia, Canada and its flagship property Kahilt in Alaska, United States.
The Kahilt Property is a large 394 square kilometre, 100% owned land position in an under-explored district with the potential to host world class ore bodies. The Kahilt District of Alaska, located 160 kilometers northwest of Anchorage, hosts the giant Pebble Gold-Copper-Moly Deposit being developed by Northern Dynasty Minerals Ltd. and Anglo American, the Whistler Gold-Copper Deposit being developed by Kiska Metals Corp., and Millrock Resources Inc.'s Estelle Gold Property being explored in joint venture with Teck Resources. For more information on Brixton visit their corporate website at: http://www.brixtonmetals.com
Zimtu's investment in Brixton is consistent with the Company's strategy of making early-stage resource investments as well as creating and incubating companies to build value for shareholders.
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 Zimtu's receiving of shares for its role as finder and that the Company 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.
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For more information please visit the corporate website at http://www.zimtu.com or contact:
Toll Free: 1.877.377.6222