Vancouver, British Columbia (FSCwire) - Zimtu Capital Corp. ("Zimtu" or the "Company"), announces that its has acquired, through private placement, 6,000,000 units (the “Units”) of Saville Resources Inc. (“Saville”). The Units are comprised of 6,000,000 common shares and 6,000,000 share purchase warrants issued at a price of $0.05 per Unit. Each warrant entitles the holder to purchase one additional share at a price of $0.10 per share within 2 years from closing.
Prior to the issuance of the units, Zimtu held 671,000 common shares of Saville. After the private placement, Zimtu holds 6,671,000 common shares and 6,000,000 share purchase warrants representing 12.6% of the outstanding shares on a partially diluted basis.
Zimtu acquired the shares and warrants for investment purposes. Depending on market conditions and other factors, Zimtu may acquire additional shares of Saville as Zimtu may deem appropriate, whether in open market purchases, privately negotiated transactions or otherwise. Zimtu may dispose of some or all of such shares or warrants.
This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also require a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the “Early Warning Report”). A copy of this Early Warning Report has been filed with Saville’s documents on the SEDAR website at www.sedar.com.
About Zimtu Capital Corp.
Zimtu Capital Corp. 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. For more information, visit the corporate website at http://www.zimtu.com.
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.