(TheNewswire)
Toronto, Ontario – TheNewswire- June 20, 2024 - Zonetail Inc. (“Zonetail”or the “Company”) (TSXV: ZONE) (OTC: ZTLLF) provides an update onthe Ontario Securities Commission (the"OSC") failure-to-file cease trade order (the"FFCTO") against the Company under Multilateral Instrument11-103 - Failure-to-File Cease Trade Orders in MultipleJurisdictions . The FFCTOwas issued on May 7, 2024, as a result of theCompany's delay in filing its annual financial statements,accompanying MD&A and CEO and CFOcertifications for the fiscal year ended December 31, 2023 (the"Required Filings") beyond the regulatory deadline of April29, 2024.
Zonetail has been working diligently with its auditorto complete the required filings. The Company expects to be in aposition to file the Required Filings no later than June 21, 2024.The Company is also required to file is interim financial statementsand MD&A and CEO and CFO certifications. These documents areexpected to be filed shortly after the Required Filings.
The OSC has indicated in its policies that theautomatic revocation of the FFCTO will occur within 2 business daysfrom the filing of all the Company’s required filings notedabove.
Following the FFCTO, the Company must then obtainapproval to re-list is common shares for trading on the TSX VentureExchange. That process is underway and expected to be complete, withthe Company re-listed for trading next week.
The Company also wishes to clarify information from itsfinal press release regarding its private placement issued on May 3,2024. The Company paid eligible finders (“Finders”), all of whomare at arm’s length to the Company and its insiders within themeaning of Policy 5.1 of the TSX Venture Exchange (the“Exchange”), cash compensation as finders fees of $840 and issuedan aggregate of 42,000 finders warrants of the Company (“FindersWarrants”). Each Finder Warrant entitles the holder to purchase oneShare of the Company at an exercise price of $0.05, for a period ofthirty-six (36) months from the closing date of the Offering.
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.
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