(TheNewswire)
Toronto, Ontario – TheNewswire- May 2, 2024 Zonetail Inc. (“Zonetail” orthe “Company”) (TSXV: ZONE) (OTC Pinks: ZTLLF) is announcing theCompany's delay in filing its annual financial statements for the yearended December 31, 2023 and related management discussion andanalysis (collectively, the "Financial Statements"), and theCEO and CFO certificates relating to the Financial Statements (the"Required Filings"), beyond the prescribed filing deadlineof April 29, 2024 (the "Filing Deadline").
The Company's delay in filing its Required Filings bythe Filing Deadline is due to unexpected delays in commencing theaudit of the Company, which is being carried out by MNP LLP, theCompany's auditor (the "Auditor"). The audit is fullyunderway, and the Company is focused on its completion.
Considering the foregoing factors, it is the Company'sview that should the present circumstances warrant the imposition of amanagement cease trade order ("Management CTO"), rather thanan issuer cease trade order, as contemplated under National Policy12-203 – Management Cease Trade Orders ("NP 12-203").The Company has applied for a Management CTO, however there is noassurance that it will be granted.
The Company proposes to remedy the default bydiligently working with the Auditor to ensure the filing of itsRequired Filings as soon as possible. The Company expects to be in aposition to issue and file the Required Filings by May 17, 2024, andin any event within two months after the Filing Deadline.
The Company therefore fully expects to file itsRequired Filings prior to the expiration of the two month period afterthe Filing Deadline as prescribed by NP 12-203. Further, the Companyhas confirmed that it intends to satisfy the provisions of thealternative information guidelines described in Sections 9 and 10 ofNP 12-203 for so long as it remains in default for failure to file theRequired Filings. Should the Company fail to file the appropriateDefault Status Reports as prescribed by NP 12-203, the securitiescommissions or regulators may, as a result of such failure, impose anIssuer Cease Trade Order.
The Company confirms that it is not subject to anyinsolvency proceeding as of the date hereof. The Company also confirmsthat there is no other material information concerning the affairs ofthe Company that have not been generally disclosed as of the dateherein.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
About Zonetail
Zonetail Inc. (TSXV: ZONE) (OTC Pink: ZTLLF) is amobile platform and market network. Our Mission is to provide astate-of-the-art mobile platform that enables high-rise residents tobetter manage their homes by connecting people to products, amenities,and services. Our Vision is to build a critical mass of users in thehard-to-reach, high rise residential vertical, through a unique mobilemarket network model - providing vital information, products, andservices at the tap of a screen. We are the search engine to optimizeyour home. Zonetail is partnered with Yardi, Shiftsuite and now MRISoftware which together account for an estimated 50 million householdsacross North America.
Please visit https://www.zonetail.com .
For more information, please contact:
Mark Holmes, President and CEO, Zonetail Inc.
T: (416) 994-5399 E: mark@zonetail.com
Legal Disclaimer and Forward-LookingStatements
This press release contains forward-looking statementsthat relate to Zonetail’s current expectations and views of futureevents. In some cases, these forward-looking statements can beidentified by words or phrases such as “may”, “will”,“expect”, “anticipate”, “aim”, “estimate”,“intend”, “plan”, “seek”, “believe”, “potential”,“continue”, “is/are likely to” or the negative of these terms,or other similar expressions intended to identify forward-lookingstatements. Certain matters discussed in this announcement containstatements, estimates and projections about the growth of Zonetail’sbusiness, potential distribution partnerships and/or clients, andrelated business strategy. Such statements, estimates and projectionsmay constitute forward-looking statements within the meaning of thefederal securities laws. Factors or events that could cause our actualresults to differ may emerge from time-to-time. Zonetail undertakes noobligation to publicly update or revise any forward-lookingstatements, whether as a result of new information, future events orotherwise. The recipient of this information is cautioned not to placeundue reliance on forward-looking statements. Forward-lookingstatements are based on certain assumptions and analysis made byZonetail in light of its experience and perception of historicaltrends, current conditions and expected future developments and otherfactors Zonetail believes are appropriate, and, are subject to risksand uncertainties. Although Zonetail believes that the assumptionsunderlying these statements are reasonable, they may prove to beincorrect. Given these risks, uncertainties and assumptions,prospective purchasers should not place undue reliance on theseforward-looking statements.
Copyright (c) 2024 TheNewswire - All rights reserved.