VANCOUVER, May 30, 2014 /CNW/ - Zimtu Capital Corp. (TSXv: ZC; FSE: ZCT1) (the "Company" or "Zimtu") announces that the Company has entered into an agreement with Pasinex Resources Limited ("Pasinex") to acquire 2,877,718 common shares in the capital stock of Pasinex in settlement of outstanding debt. Upon issuance of the shares, Zimtu's equity position in Pasinex will increase to 11,620,360 (17%).
The Company has agreed to settle $287,771.85 at a deemed price of $0.10 per common share. The shares will be subject to a four month regulatory hold period.
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.
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 the common shares will be issued and that the ownership will increase to 17%.
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: Matt Sroka, Corporate Communications, Tel: 604.681.1568, Email: [email protected]