Zimtu Capital Corp. Announces Closing of Warrant Exercise Incentive Program

Executive Summary

• Zimtu Capital Corp. completed its warrant exercise incentive program, issuing 4,359,687 incentive warrants to eligible holders.
• The exercised warrants generated gross proceeds of $2,090,802.65, which will be used for general working capital.
• Insiders exercised 564,287 warrants and received an equal number of incentive warrants; the transaction qualifies as a related‑party transaction but is exempt from formal valuation and minority‑shareholder approval under MI 61‑101.

Key Details

• Incentive Warrants Issued: 4,359,687 warrants, each exercisable for one common share at $0.75 per share (exercise window through 28 Nov 2027).
• Warrants Exercised & Proceeds:
• 1,780,817 warrants @ $0.45 exercised on 21 Feb 2023 → $801,367.65
• 2,116,370 warrants @ $0.50 exercised on 1 May 2023 → $1,058,185.00
• 462,500 warrants @ $0.50 exercised on 14 Jul 2023 → $231,250.00
• Total Gross Proceeds: $2,090,802.65.
• Use of Proceeds: General working capital purposes.
• Hold Period: Incentive Warrants and underlying shares subject to a four‑month‑plus‑one‑day hold period per Canadian securities law.
• Related‑Party Transaction: Insiders exercised 564,287 warrants and received the same number of incentive warrants; transaction falls under MI 61‑101 exemption because fair market value ≤ 25 % of market cap.
• Remaining Warrants: Any unexercised warrants stay outstanding on their original terms.

Notable Quotes

(No direct quotes were provided in the release.)