VANCOUVER, April 19, 2013 /CNW/ - Zimtu Capital Corp. (TSXv: ZC) (FSE:
ZCT1) (the "Company" or "Zimtu") is pleased to announce that at the
open of market today one of its equity holdings Prima Fluorspar Corp.
("Prima") commenced trading on the TSX Venture Exchange under the
symbol TSXv: PF.
Zimtu currently holds 7,457,500 common shares of Prima (subject to a
36-month staged escrow release) representing approximately 27% of the
total 26,761,500 issued and outstanding common shares of Prima. Zimtu
has been an active supporter of Prima since its inception and will
continue to support the company as it moves forward.
Prima is focused on expanding a historic fluorspar resource* at its
Liard Fluorspar Property in northern British Columbia.
HIGHLIGHTS ABOUT PRIMA'S HISTORIC RESOURCE*
-
3.2 million tonnes at an average grade of 32% fluorspar*
-
Mineralization at surface
-
30 km strike length
-
Metallurgical Testing: 97% CaF2*
-
22,500 ha (55,000 acres), 100%-owned claims
-
Easy access, on Alaska Highway in British Columbia
FLUORSPAR FACTS:
-
Uses: Refrigeration, aluminum and steel smelting, consumer products like Teflon® and GORE-TEX®, medicines, cement, and
petroleum-based fuels
-
$2.4 billion/annum market
-
North American Purchasers: Chemical Companies - Dupont, Honeywell;
Aluminum Producers: Rio Tinto Alcan (Kitimat)
PRIMA MANAGEMENT TEAM
Robert Bick, President/CEO
Robert Bick is an experienced company builder. Mr. Bick is the former
CEO and Executive Chairman of Evolving Gold Corp. (http://www.evolvinggold.com). He joined Evolving Gold when it had a market cap of less than $3
million, trading on the CNSX. During Robert's tenure, the market cap
increased from $3 million to over $100 million. Evolving Gold raised
over $50 million during that period, moved to the TSX-V and
subsequently graduated to the TSX main board.
Andrew Davidson, Chief Financial Officer
Andrew Davidson provides extensive financial and public company
knowledge to the team. Mr. Davidson is a Chartered Accountant with
extensive experience in Canadian and international financial reporting
standards. He has years of experience in public practice accounting
focusing specifically on assurance for publicly listed enterprises. Mr.
Davidson is also the CFO of 49 North Resources Inc. (http://www.fnr.ca/), a Canadian resource investment company headquartered in Saskatchewan.
Mr. Davidson currently sits as a Director for Kimpar Resources Inc. and
Allstar Energy Limited.
Sean Charland, Director
Sean Charland provides a critical marketing presence for Prima in
Toronto. Mr. Charland is a seasoned communications professional with
experience in raising capital and marketing resource exploration
companies. Mr. Charland is a director of Zimtu. His network of
financial community contacts extends across North America and Europe.
Mr. Charland also serves as a Director of Arctic Star Exploration Corp.
Dean Nawata, Director
Dean Nawata contributes public market and capital finance depth to the team. Mr.
Nawata has over 18 years of public market experience, nine of which he
spent as a licensed stockbroker focusing on financing of junior mining
and oil/gas projects with Nesbitt Burns, Research Capital Corporation,
and Raymond James. Mr. Nawata currently holds a position in Business
Development for 49 North Resources.
Jenna Hardy, Director
With over 30 years as mining industry geoscientist, Ms. Hardy supplies
technical, geological expertise to the team. As a professional
geoscientist, she has been involved in project coordination, regulatory
and permitting issues, implementation and monitoring of environmental
action plans and procedures, as well as environmental impact
assessment. Ms. Hardy also serves as a Director of Commerce Resources,
HFX Holdings and Argentex Mining.
For more information on Prima please visit their homepage at: http://primafluorspar.com/ or contact Tyler Lowes, Corporate Communications at 604.681.1568 or
email tlowes@primafluorspar.com
About Zimtu Capital Corp.
Zimtu Capital Corp. is a TSX Venture listed investment company that
invests in, creates, and grows natural resource companies thereby
providing a way for investors to participate and profit in the public
company building process. The Company also provides mineral property
advisory services helping to connect companies to properties of
interest.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
"David Hodge"
David Hodge
President & Director
Phone: (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.
Statements in this document which are not purely historical are
forward-looking statements, including any statements regarding beliefs,
plans, expectations or intentions regarding the future.
It is important to note that actual outcomes and the Company's actual
results could differ materially from those in such forward-looking
statements. Risks and uncertainties include, but are not limited to,
economic, competitive, governmental, environmental and technological
factors that may affect the Company's operations, markets, products and
prices. Readers should refer to the risk disclosures outlined in the
Company's Management Discussion and Analysis of its audited financial
statements filed with the British Columbia Securities Commission.
*Historical Data
Prima Fluorspar Corp. has not undertaken an independent verification to
classify the historic resource estimate quoted from a Mineral Potential
Compilation Report for the BC Department of Economic Development,
written by Wright Engineers Limited and H.N. Halvorson Consultants
Ltd., in January 17, 1975 as a current mineral resource. Neither has
Prima independently verified the results of the previous exploration
work. Therefore, the historical mineral resource should not be relied
upon, but the issuer believes the information to be relevant and
reasonably reliable. An unknown quantity of the 3.2 million tonnes are
on mineral claims outside of the current Liard Fluorspar Property.
However, based on the information available, the majority of the
estimate is based on the deposits located on Prima's Liard Fluorspar
Property. The key assumptions, parameters and methods of the resource
estimate are unknown at this time. New deposit definition drilling is
needed to develop a current resource estimate on the property. Prima
believes that these historical mineral resources provide a conceptual
indication of the potential of the property and are relevant to ongoing
exploration.
SOURCE: Zimtu Capital Corp.
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Matt Sroka, Shareholder Services at 604.681.1568 or email info@zimtu.com.