Zimtu Capital Corp. Announces Transaction With 92 Resources Corp. For Claims in Northwest Territories, Canada
Vancouver, British Columbia (FSCwire) - Zimtu Capital Corp. (TSXv: ZC; FSE: ZCT1) (the “Company” or “Zimtu”) is pleased to announce that the Company and two of its prospecting partners have signed a property purchase agreement with 92 Resources Corp. (TSXv: NTY) (“92 Resources”) whereby 92 Resources can acquire a 100%-interest in the Hidden Lake Lithium Property.
For its participation in the transaction, Zimtu will receive share payments from 92 Resources as follows: (i) 500,000 upon receipt of regulatory approval; and (ii) 500,000 common shares within 12 months of regulatory approval.
The Hidden Lake Lithium Property consists of two mineral claims, totaling approximately 1,100 hectares. It is located north of Highway 4, 40 km northeast of the city of Yellowknife, Northwest Territories. The property is highly prospective for spodumene-bearing lithium pegmatites. 92 Resources anticipates conducting a fieldwork program as soon as weather conditions permit.
Zimtu Capital Corp., along with its prospecting partners, continues to evaluate and acquire prospective resource properties for sale or joint venture. As part of the Company's business, Zimtu provides mineral property project generation and advisory services and helps to connect companies with mineral properties of interest.
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 please 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.
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 92 Resources can purchase a 100%-interest in certain mineral claims located in Northwest Territories, Canada; that in consideration for its interest, Zimtu will receive share payments from 92 Resources, and that Zimtu, along with its prospecting partners, continue to evaluate and acquire prospective resource properties to make available for sale or joint venture.
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.