Ottawa, Canada –September 23, 2019 – ZIM Corporation (OTCQB: ZIMCF) (the “Company”), a provider of software products and services for the database and mobile markets: today announced that it has been made aware of promotional activity in relation to the Company’s common stock. As required by the OTCQB Policy on Stock Promotion the Company announces that:
1.a) The Company became aware of the promotional activities by way of notice from OTCQB on Thursday, September 19, 2019.
1.b) As a result of the promotional activities the trading price of the Company’s common stock has risen from $0.0371 at close on September 17, to $0.2705 at close on Friday, September 20, with a high of $0.28.
1.c) The promotional activity was in the form of mass e-mail stock pick recommendations from Penny Stock Titans, Stock Guru and OTC Rockstaron Wednesday, September 18, 2019, and Thursday, September 19, 2019
2. The Company and its officers had no knowledge, were not involved, directly or indirectly, with the creation, distribution, or payment of the promotional activities.
3. The Company has reviewed the statements in the promotional material and confirm that they are materially correct with the following exceptions:
- The statement made in relation to the company “recently redirected resources related to mobile content to the continued development of the company’s IDE software” is inaccurate. Resources related to mobile content were redirected to the continued development of the company’s IDE software several years ago.
- The statement made in relation to “Zim 8.50 is the newest product from the company” is incorrect. Zim 9.0 is the most current release version of Zim’s Database and IDE.
- ZIM does not have any consumer customers. ZIM discontinued its digital media operations on March 31, 2013.
4. After investigation by management the Company confirms that none of its directors and control persons, its officers, directors, controlling shareholders or any third party service providers have directly or indirectly, been involved with in any way with the creation, distribution, or payment of the promotional materials related to the Company and its security.
5. After investigation by management the Company confirms that none of its directors and control persons, its officers, directors, controlling shareholders or any third-party service providers have sold or purchased the Company’s securities within the past 90 days.
6. The Company has not engaged any third-party providers of investor relations, public relations, marketing or other related services including the promotion of the Company or its securities in the last 12 months.
7. The Company has not, at any point, issued shares or convertible instruments allowing the conversion to equity securities at prices constituting a discount to the current market value at the time of issuance.
ZIM is a provider of software products and services for the database and mobile markets. ZIM products and services are used by enterprises in the design, development and management of business, database and mobile applications. For more information on ZIM and its customers, partners and products, visit: www.zim.biz.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, with respect to ZIM’s use of its cash from operations. All forward-looking statements made in this press release relating to expectations about future events or results are made as of, and are based upon information available to ZIM as of, the date hereof. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those described or implied by any forward-looking statements. New risks can arise and it is not possible for management to predict all such risks, nor can it assess the impact of all such risks on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. All forward-looking statements speak only as of the date of this news release. We undertake no obligation to revise or update publicly any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this news release, other than as required by law.Please refer to ZIM’s filings with the SEC for additional information regarding risks and uncertainties. Copies of these filings are available through the SEC’s website at www.sec.gov.
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