VANCOUVER, March 11, 2015 /CNW/ - Zimtu Capital Corp. (TSXv: ZC; FSE: ZCT1) (the "Company" or "Zimtu") is pleased to announce that it has acquired 3,100,000 units of Equitas Resources Corp. at a price of $0.06 per unit through a non-brokered private placement. Each unit consists of one common share and one share purchase warrant exercisable at $0.10 per common share for a period of 2 years from closing. The warrants contain restrictive language that will not allow for the exercise of the number of warrants that would cause Zimtu's holdings to exceed 19.9% of the issued and outstanding capital of Equitas, without first having received TSX Venture Exchange and disinterested shareholders approval.
Following this transaction, Zimtu holds a total of 5,600,999 common shares or 16.2% of the current 34,503,119 issued and outstanding common shares.
These securities were acquired for investment purposes only. Zimtu intends to evaluate the investment and to increase or decrease holdings as circumstances warrant.
About Zimtu Capital Corp.
Zimtu Capital Corp. is a public investment issuer that 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 project generation and advisory services helping to connect companies to properties of interest.
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.
SOURCE Zimtu Capital Corp.
For further information: David Hodge, President & Director, Phone: 604.681.1568