Zimtu Capital Corp. Announces Proposed Share Consolidation

Rhea-AI Summary

Zimtu Capital Corp (TSXV:ZC)(FSE:ZCT1) has announced plans for a 5-to-1 share consolidation of its common shares. The consolidation will reduce the company's outstanding shares from 63,413,303 to approximately 12,682,661 post-consolidated shares.

The board believes this move will enhance the company's marketability as an investment and improve its position for future fundraising efforts. The consolidation requires TSX Venture Exchange approval. Zimtu will maintain its current name and trading symbol.

Shareholders entitled to fractional shares will be rounded up to the nearest whole number, with no cash compensation provided. The exercise price and number of shares for outstanding options and warrants will be proportionally adjusted following the consolidation implementation.

VANCOUVER, BC / ACCESS Newswire / April 21, 2025 / Zimtu Capital Corp. (TSXV:ZC)(FSE:ZCT1) (the "Company" or "Zimtu") announces that it intends to complete a consolidation of its issued and outstanding common shares (the "Shares") on the basis of one (1) new Share (each, a "Post-Consolidated Share") for every five (5) current outstanding Shares (the "Consolidation").

It is anticipated that the Consolidation will reduce the number of outstanding Shares from 63,413,303 Shares to approximately 12,682,661 Post-Consolidated Shares, subject to adjustment for rounding. The board of directors of the Company believes that the Consolidation will both enhance the marketability of the Company as an investment and better position the Company to raise the funds necessary to execute the Company's business plan. The Consolidation is subject to approval by the TSX Venture Exchange (the "Exchange").

The Company does not intend to change its name or its current trading symbol in connection with the proposed Consolidation. The effective date of the Consolidation will be announced in a subsequent news release.

No fractional Post-Consolidated Shares will be issued as a result of the Consolidation. Shareholders who would otherwise be entitled to receive a fraction of a Post-Consolidated Share will be rounded up to the nearest whole number of Post-Consolidated Shares and no cash consideration will be paid in respect of fractional Shares.

The exercise price and number of Shares of the Company issuable upon the exercise of outstanding options and warrants will be proportionally adjusted upon the implementation of the proposed Consolidation in accordance with the terms thereof.

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 trades 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.

"Sean Charland"
Sean Charland
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.

Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include statements about the Consolidation, its terms, and its anticipated benefits, receipt of approval for the Consolidation from the Exchange and that the Company will complete the Consolidation. These forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation the Company's inability to obtain approval for the Consolidation from the Exchange, inability to complete the Consolidation for a variety of reasons, and risk that the Company may not realize the expected benefits of the Consolidation. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking statements are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

SOURCE: Zimtu Capital Corp.

View the original press release on ACCESS Newswire

FAQ

What is the share consolidation ratio announced by Zimtu Capital (ZTMUF)?

Zimtu Capital announced a 5-to-1 share consolidation ratio, meaning every 5 current shares will be converted into 1 new post-consolidated share.

How many shares will Zimtu Capital have after the consolidation?

After the consolidation, Zimtu Capital's outstanding shares will reduce from 63,413,303 to approximately 12,682,661 post-consolidated shares.

What happens to fractional shares in Zimtu Capital's consolidation?

Shareholders entitled to fractional shares will be rounded up to the nearest whole number of post-consolidated shares, with no cash consideration provided.

How will the consolidation affect Zimtu Capital's stock options and warrants?

The exercise price and number of shares for outstanding options and warrants will be proportionally adjusted according to the 5:1 consolidation ratio.

Why is Zimtu Capital implementing a share consolidation?

The consolidation aims to enhance the company's marketability as an investment and better position it to raise necessary funds for executing its business plan.