Zimtu Capital Corp. (TSXV:ZC,FWB:ZCT1) and one of its prospecting partners have signed an agreement with First Graphite Corp. whereby First Graphite can earn a 100%-interest in the Henry Graphite Property located in north-east Saskatchewan.

As quoted in the press release:

For its participation in the transaction, Zimtu will receive staged cash and share payments from First Graphite as follows: (i) $38,750 on signing; (ii) $38,750 and 350,000 common shares on acceptance by the TSX Venture Exchange (“TSXv”); (iii) 150,000 common shares six months from the date of TSXv acceptance; (iv) 250,000 common shares 12 months from the date of TSXv acceptance; (v) 250,000 common shares of 24 months from the date of TSXv acceptance. Zimtu’s partner will receive cash and share consideration equal to that of Zimtu. The vendors will collectively retain a 2% Net Smelter Returns Royalty on the property. The transaction is subject to acceptance by the TSXv.

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