VANCOUVER, BC / ACCESSWIRE / April 2, 2019 / Zimtu Capital Corp. (TSXV: ZC; FSE: ZCT1) (the "Company" or "Zimtu") announces that it has filed an Early Warning Report triggered by the separate acquisition on the market of common shares (each, a "Share") of Saville Resources Inc. ("Saville") by David Hodge (a Joint Actor as defined below) on December 5, 2018 and the definition and deeming provisions of the Securities Act (British Columbia) with respect to persons deemed to be acting jointly or in concert (the "Arrangement").
Prior to the Arrangement, Zimtu directly owned and controlled:
- 6,671,000 Shares, which represents 10.52% of the issued and outstanding Shares of Saville; and
- 2,000,000 warrants to purchase Shares (each, a "Warrant"), which, upon exercise, would increase Zimtu's shareholdings to 13.25% of the issued and outstanding Shares of Saville on a partially diluted basis.
Prior to the Arrangement, David Hodge:
- directly owned and controlled 2,471,400 Shares and indirectly controlled 3,493,667 Shares registered to his spouse, Deborah Hodge, representing a total of 9.40% of the issued and outstanding Shares of the Company; and
- directly owned and controlled 1,000,000 Warrants and indirectly controlled 2,666,667 Warrants registered to his spouse, Deborah Hodge, which, upon exercise, would increase the shareholdings of the joint holders to 14.36% of the issued and outstanding Shares of Saville on a partially diluted basis.
After the Arrangement, Zimtu, together with David Hodge and Deborah Hodge owned and controlled 13,220,067 Shares and 5,666,667 Warrants or 20.85% of the issued and outstanding Shares of Saville and 27.34% on a partially diluted basis.
Pursuant to the Arrangement and depending on market conditions and other factors, Zimtu, David Hodge and Deborah Hodge (the "Joint Actors") may acquire or dispose of Shares or Warrants of Saville as the Joint Actors may deem appropriate, whether in the open market, privately negotiated transactions or otherwise.
This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also require a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the "Early Warning Report").
A copy of this Early Warning Report has been filed with Saville's documents on the SEDAR website at www.sedar.com.
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, visit the corporate website at http://www.zimtu.com.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
"David Hodge"
David Hodge
President & Director
Tel: 604.681.1568
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.
SOURCE: Zimtu Capital Corp.
View source version on accesswire.com:
https://www.accesswire.com/540923/Zimtu-Capital-Corp-Files-Early-Warning-Report-for-Control-Block-Acquisition
