Zimtu Capital Corporation: Early Warning Report
19.07.2016 | FSCwire
Vancouver - Zimtu Capital Corp. (TSXv: ZC; FSE: ZCT1) (the "Company" or "Zimtu") announces that it has agreed to a share sale transaction pursuant to which Zimtu will sell a total of 7,050,000 common shares of Voltaic Minerals Corp. ("Voltaic"), representing 18.7% of Voltaic’s issued and outstanding share capital.The shares will be sold in private transactions to a total of 14 individuals at a price of $0.03 per share for gross proceeds of $211,500. The shares are sold below market price to provide financial incentive to the purchasers who will take over leadership of Voltaic and its business. Zimtu will remain the owner of approximately 16% of the outstanding shares of Voltaic.
Immediately prior to the transaction described herein, Zimtu owned and exercised control or direction over 13,889,582 common shares of Voltaic, representing approximately 36.8% of the issued and outstanding common shares of Voltaic. Immediately after the transaction described herein, Zimtu will own and exercise control or direction over 6,039,582 common shares of Voltaic, representing 16% of the issued and outstanding common shares of Voltaic.
The sale is being made to 14 persons of whom 7 of the purchasers are not at arm’s length to Zimtu. Of the 7,850,000 shares being sold, 5,950,000 have been allocated to insiders of Voltaic representing the management team.
Zimtu holds the common shares of Voltaic for investment purposes and may from time to time in the future increase or decrease its ownership of common shares of Voltaic through market transactions, private agreements or otherwise.
About Zimtu Capital Corp.
Zimtu Capital Corporation is a public investment issuer that invests in, creates and grows natural resource companies. The Company also provides mineral property project generation and 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 www.zimtu.com.
On Behalf of the Board of Directors ZIMTU CAPITAL CORP.
“David Hodge”
David Hodge, President & Director
Tel: 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. 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.
