Zimtu Capital Corp. Announces Closing of Warrant Exercise Incentive Program

Core Viewpoint - Zimtu Capital Corp. has successfully completed its warrant exercise incentive program, issuing a total of 4,359,687 incentive warrants to eligible holders, which can be exercised at a price of $0.75 per share until November 28, 2027 [1][2]. Group 1: Warrant Exercise Details - The eligible holders exercised a total of 4,359,687 warrants, generating gross proceeds of $2,090,802.65 [2]. - The breakdown of warrants exercised includes 1,780,817 at $0.45 issued on February 21, 2023, 2,116,370 at $0.50 issued on May 1, 2023, and 462,500 at $0.50 issued on July 14, 2023 [2]. - Any outstanding warrants not exercised will remain valid and can be exercised under their existing terms [2]. Group 2: Insider Participation - Certain directors and officers of the company exercised a total of 564,287 warrants, receiving an equal number of incentive warrants, which qualifies as a related party transaction [4]. - The company is utilizing exemptions from formal valuation and minority shareholder approval requirements as the fair market value of the warrants received by insiders does not exceed 25% of the company's market capitalization [4]. Group 3: Regulatory Information - The incentive warrants and the common shares from their exercise are subject to a hold period of four months and one day from the issuance date, in accordance with Canadian securities laws [3].