Zimtu Capital Corp. announces closing of private placement

VANCOUVER, July 14, 2014 /CNW/ - Zimtu Capital Corp. (TSXV: ZC) (FSE: ZCT1) (the "Company" or "Zimtu") announces that it has closed the non-brokered private placement financing (the "Offering") it previously announced by News Releases dated April 4, 2014 and June 17, 2014.

The Company issued 2,228,690 units ("Unit") at a price of $0.50 per Unit for gross proceeds of $1,114,345. Each Unit consists of one common share of the Company ("Share") and one non-transferable common share purchase warrant ("Warrant"), with one Warrant entitling the holder to acquire one additional Share ("Warrant Share") at a price of $0.75 per Warrant Share until July 11, 2016.

The Company paid cash finders' fees to certain finders in the aggregate amount of $29,840 and issued 59,680 warrants (the "Finders' Warrants") exercisable into Shares ("Finders' Warrant Shares") until July 11, 2016 at a price of $0.50 per Finders' Warrant Share.

The Warrants and the Finders' Warrants are subject to an acceleration clause.  If on any 20 consecutive trading days following July 11, 2014, the closing sales price of the Shares as quoted on the TSX Venture Exchange (the "TSXV") is greater than 150% of the exercise price, the Company may accelerate the expiry date of the Warrants or Finders' Warrants to the 30th day after the date on which the Company gives such notice to the warrant holder.

All securities issued in the Offering will be subject to a statutory hold period expiring November 12, 2014.

The Company intends to use the proceeds from the Offering for prospect generation, company building and general working capital.

None of the securities sold in connection with the Offering will be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Zimtu Capital Corp.
Zimtu Capital Corp. is a public investment issuer that invests in, creates and grows natural resource companies thereby providing a way for shareholders to indirectly participate and profit in the public company building process. The Company also provides mineral property project generation and advisory services helping to connect companies to properties of interest.

Zimtu trades on the Exchange under the symbol "ZC" and the Frankfurt Stock Exchange under the symbol "ZCT1".

On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.

"David Hodge"
David Hodge
President & Director
Phone: [phone]

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 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 expectations of management regarding use of proceeds of the Offering and acceleration of the Warrants and Finders' Warrants.

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; the Exchange may not approve the Offering; the proceeds of the Offering may not be used as stated in this press release; and that the parties may be unable to satisfy all of the conditions to closing the Offering. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements and other continuous disclosure documents filed under the Company's profile on SEDAR (http://www.sedar.com).

SOURCE: Zimtu Capital Corp.

please visit the corporate website at http://www.zimtu.com or contact Matt Sroka, Corporate Communications, at 604.681.1568.