Zimtu Capital Corp. Announces Entry Into Claims Sale Agreement

Zimtu Capital Corp. (TSXV:ZC) (FSE:ZCT1) has entered into an agreement to sell mining claims known as the Eagle Lake and Whitefish Lake claims. These claims, located 350 km northwest of Thunder Bay, Ontario, cover 61,093 hectares.

The transaction, agreed on July 15, 2024, involves a sale to Discovery Lithium Inc. for $432,778.50, 2,000,000 shares in Discovery, and a 1% net smelter royalty. Discovery Lithium will also assume certain payment obligations related to past agreements.

Completion of the transaction depends on approvals from the TSX Venture Exchange and the Canadian Securities Exchange. The issued shares will have a hold period of four months and one day post-closing.