VANCOUVER, BC / ACCESSWIRE / February 24, 2021 / Zimtu Capital Corp. (TSXV:ZC)(FSE:ZCT1) (the "Company" or "Zimtu") is very pleased to announce that equity holding Zinc8 Energy Solutions Inc. (ZAIR) has closed a previously announced marketed private placement offering for total gross proceeds to Zinc8 Energy Solutions of $15,525,000.
"Zimtu Capital Corp. holds approximately 6.25 million shares of Zinc8 Energy Solutions," remarked President Dave Hodge, "and I feel the successful closing of this latest private placement is a key indicator to the market that Zinc8 is the real deal when it comes to long-term, safe and scalable energy storage. When you consider the current push for the development and deployment of renewable energy sources and energy transmission infrastructure reform there's a great potential for Zimtu shareholders to benefit from Zinc8 Energy's evolution and growth."
The net proceeds of Zinc8 Energy Solutions' private placement offering will be used for further research, development, and commercialization of the company's patented zinc-air battery system, business development, marketing, capital investments and general working capital requirements.
To read Zinc8 Energy's news release please click here.
A key component of Zimtu's business model is the creation of, and support for early-stage companies in several sectors, including resource development, cannabis, and applied technology. To learn about the Company's newest early-stage investments please consider joining our next Zoom with Zimtu investor presentation today starting at 10:00 AM PST (Vancouver). For more information, including how to reserve your place, please visit our Events Page.
About Zinc8 Energy Solutions Inc.
Zinc8 has assembled an experienced team to execute the development and commercialization of a dependable low-cost zinc-air battery. The mass storage system offers both environmental and efficiency benefits. Zinc8 strives to meet the growing need for secure and reliable power. To learn more about Zinc8's technology, please visit: www.zinc8energy.com
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 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.
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https://www.accesswire.com/631681/Equity-Holding-Zinc8-Energy-Solutions-Announces-Closing-of-Private-Placement-of-Common-Shares
