(TheNewswire)
Toronto, Canada – TheNewswire - April 29, 2024 - (TSXV:ZONE ) , ( OTC:ZTLLF) - Zonetail Inc. ("Zonetail" or the"Company") is pleased to announce the closing (the“Closing”) of the second tranche of non-brokered private placementof up to $1,000,000 in common shares of the Company at a purchaseprice of $0.02 per Share (the "Offering"). The Companyclosed an additional $54,047 of the Offering. This brings the totalprivate placement to 9,029,800 common shares for gross proceeds of$180,596. No new insiders were created as a result of the Closing.Additional tranches are expected to close in May.
The proceeds derived from the sale of the shares willbe for the completion major integration projects currently underwayincluding the recently announced Equifax Reporting Agreement (seepress release dated January 30, 2024) as well as general workingcapital purposes. Assuming aggregate gross proceeds are raised,approximately 22% will be used for non-arm’s length salaries, 2% forinvestor relations, 20% for technology additions and 15% for arm’slength salaries.
A portion of the Offering may be allocated to investorsrelying on the “accredited investor” or other exemptions availableto Zonetail under National Instrument 45-106 – ProspectusExemptions.
Certain insiders of Zonetail may participate in theOffering; however, the total participation by insiders is not expectedto exceed 25% of the Offering.
All securities issuable pursuant to the Offering,including the Finders Warrants and the Shares, if any, issuable ontheir exercise are subject to a four month and one day hold periodfrom the date of issuance in accordance with applicable Canadiansecurities laws.
About Zonetail
Zonetail Inc. (TSXV: ZONE, OTCQB: ZTLLF) is a mobileplatform 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 projections may constitute forward-looking statementswithin the meaning of the federal securities laws. Factors or eventsthat could cause our actual results to differ may emerge fromtime-to-time. Zonetail undertakes no obligation to publicly update orrevise any forward-looking statements, whether as a result of newinformation, future events or otherwise. The recipient of thisinformation is cautioned not to place undue reliance onforward-looking statements. Forward-looking statements are based oncertain assumptions and analysis made by Zonetail in light of itsexperience and perception of historical trends, current conditions andexpected future developments and other factors Zonetail believes areappropriate, and, are subject to risks and uncertainties. AlthoughZonetail believes that the assumptions underlying these statements arereasonable, they may prove to be incorrect. Given these risks,uncertainties and assumptions, prospective purchasers should not placeundue reliance on these forward-looking statements.
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