VANCOUVER, BC / ACCESS Newswire / June 17, 2025 / Zimtu Capital Corp. (TSX.V:ZC)(FSE:ZCT1) ("Zimtu" or the "Company") is pleased to announce that it has signed a definitive agreement with Discovery Energy Metals Corp. (CSE:DEMC)(OTCQB:DEMCF)(FRA:Q3Q0) ("Discovery") for the sale of a 100% interest in the Crystal Lake Copper Property ("Crystal Lake" or the "Property"), located in north-central British Columbia, approximately 34 kilometres south of Fort Fraser.
Under the terms of the agreement, Zimtu will receive total consideration of CDN $200,000 in cash and 2,000,000 common shares of Discovery Energy Metals, with an additional CDN $200,000 in cash and 1,000,000 common shares payable upon the discovery of a qualifying drill intercept. Zimtu will also retain a 2% net smelter returns (NSR) royalty on the Property, of which 1% may be bought back by Discovery for CDN $1,000,000 within five years.
Transaction Terms:
CDN $100,000 in cash and 1,000,000 common shares of Discovery issued upon signing;
An additional CDN $100,000 in cash and 1,000,000 common shares six months from signing;
A bonus of CDN $200,000 in cash and 1,000,000 common shares payable upon the first drill intercept of 0.5% Cu over 100 metres (or equivalent);
2% NSR royalty granted to Zimtu, with a 1% buyback right for CDN $1,000,000 within five years.
All securities issued are subject to applicable hold periods and approval from the Canadian Securities Exchange and, if applicable, the TSX Venture Exchange.
The Crystal Lake Copper Property comprises eight mineral claims covering approximately 5,283 hectares. The project is road accessible and benefits from nearby infrastructure including a CN rail line, power transmission lines, and a natural gas pipeline.
Discovery Energy Metals will assume full ownership and future exploration efforts on the Property.
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.
This news release contains forward-looking statements, which include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking statements in this press release include statements regarding closing of the sale of the Property, the payment of the cash and share consideration, the grant of the net smelter royalty to the Company, that the issuance of Discovery shares is subject to CSE approval, and that Discovery will assume future exploration efforts on the Property.
These statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include, but are not limited to: risks associated with the business of the Company or the businesses of the companies that the Company has invested in, including, without limitation, the natural resource exploration industry; changes in commodity prices as the Company has investments in natural resource exploration issuers; changes in interest and currency exchange rates; geopolitical risk and social unrest; changes in general economic conditions or conditions in the financial markets; and economic, competitive, governmental, environmental and technological factors which may affect the Company's operations, investments, markets, products and share price; that the sale of the Property may not occur as intended or at all; and that the CSE or the TSXV may not approve the sale of the Property.
Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.
SOURCE: Zimtu Capital Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/zimtu-capital-corp.-signs-agreement-to-sell-crystal-lake-copper-prop-1040231
