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VANCOUVER, BC / ACCESS CABLE / July 29, 2022 / Zimtu Capital Corp. (TSXV:ZC)(FSE:ZCT1) (the “Company” either “Zimtu“) announces that it has reached a definitive agreement with Eagle Bay Resources Corp. (“Eagle Bay“) to sell four (4) mining concessions comprising a property known as the “Wicheeda Extension” (the “Property“), located 85 km northeast of Prince George, British Columbia, in the rare metal belt of the Rocky Mountains.
By virtue of a mineral property purchase agreement dated July 29, 2022 between the Company and Eagle Bay (the “Agreement“), the Company agreed to sell and Eagle Bay agreed purchase a 100% participation in the credits that make up the Property. In consideration for the Property, Eagle Bay will pay the Company $60,000, the amount of which will be paid and satisfied in full by the issuance by Eagle Bay of 800,000 common shares (each, one “Consideration Share“) in the capital of Eagle Bay at a deemed price of $0.075 per share for consideration.
Completion of the transactions contemplated in the Agreement, including the sale of the Property (the “Closure“), is subject to the Company obtaining approval, if any, from the TSX Venture Exchange (the “TSXV“).
About Zimtu Capital Corp.
Zimtu Capital Corp. is a public investment issuer that aspires to achieve long-term capital appreciation for its shareholders. Zimtu Capital companies may operate in the fields of mineral exploration, mining, technology, life sciences or investment. The Company is listed on the TSX Venture Exchange under the symbol “ZC” and in Frankfurt under the symbol “ZCT1”. For more information please visit www.zimtu.com.
On behalf of the Board of Directors
ZIMTU CAPITAL CORP.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THIS TERM IS DEFINED IN THE TSXV POLICIES) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
East Press release contains forward-looking statements, including any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward-looking statements in this Press release include that the Closing will occur and that the Company will receive the required approval from the TSXV, if necessary.
These statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from those expressed, implied or projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include, but are not limited to: adverse market conditions, the Company’s inability to complete the proposed sale of the Property, or the TSXV’s failure to approve the sale of the Property. . Property in the terms advertised or not at all.
Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of unforeseen future events.
FONT: Zimtu Capital Corp.