Zimtu Capital Corp. Announces closing of Acquisition of Mining Claims in the "Wicheeda Extension" and closing of a Property Acquisition by Eagle Bay Resources Corp.
VANCOUVER, December 15, 2021 - Zimtu Capital Corp. (TSXv:ZC)(FSE:ZCT1) (the "Company" or "Zimtu") announces that further to its news release dated November 29, 2021, the Company has closed the mineral property purchase transaction to acquire certain mineral claims (the "Claims") which comprise the property known as the "Wicheeda Extension", located 85 kms north of Prince George, British Columbia.
Zimtu also announced that pursuant to the transaction, Eagle Bay Resources Corp. ("Eagle Bay"), a company in which Zimtu holds and equity interest, expanded its land holdings in the Wicheeda District of the Rocky Mountain Rare Metal Belt located approximately 85 km northeast of Prince George, British Columbia.
Pursuant to the terms of the mineral property purchase agreement dated August 18, 2021 (the "Agreement"), the Company acquired 100% interest in the Claims, in consideration of:
- a cash payment of $20,000;
- 200,000 common shares in the capital of the Company (the "Zimtu Shares"); and
- 200,000 common shares owned by Zimtu in the capital of Eagle Bay Resources Corp. (the "Eagle Bay Shares"), a private issuer.
The Company has issued the Zimtu Shares as set out in the Agreement. The Zimtu Shares issued pursuant to the transaction are subject to a hold period expiring on April 14, 2022.
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's common shares trade on the TSX Venture Exchange under the symbol "ZC" and Frankfurt under symbol "ZCT1". For more information, please visit https://www.zimtu.com.
On Behalf of the Board of Directors
Zimtu Capital Corp.
"David Hodge"
David Hodge
President & Director
Phone: 604.681.1568
NEITHER THE 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 NEWS RELEASE.
SOURCE: Zimtu Capital Corp.
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