Zonetail Inc. Announces Extension of Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - October 13, 2022) - Zonetail Inc. (TSXV: ZONE) ("Zonetail" or the "Company"), wishes to announce 30-day extension to November 11, 2022, of its previously announced private placement. The Offering consists of units of the Company (the "Units") being issued at a price of $0.04 per Unit, with each Unit being comprised of one common share (a "Share") and one half of one (1/2) common share purchase warrant (a "Warrant"). Each whole Warrant will entitle its holder to purchase one (1) additional Share of the Company at an exercise price of $0.06, for a period of thirty-six (36) months from the closing date of the Offering. The Offering is subject to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange, as well as the satisfaction of other customary closing conditions, including achievement of the Minimum Proceeds under the Offering. See press releases dated August 26, 2022 and October 5, 2022 for further details.
It is anticipated that the final closing of the Offering will occur no later than November 11, 2022. Zonetail will update shareholders when the Offering has been completed and TSXV final approval has been received.
There is no assurance that the final tranche of the Offering will be completed on a timely basis or at all.
Zonetail Inc. (TSXV: ZONE) (OTCQB: ZTLLF) is a mobile platform and market network. Our Mission is to provide a state-of-the-art mobile platform that enables high-rise residents to better manage their homes by connecting people to products, amenities, and services. Our Vision is to build a critical mass of users in the hard-to-reach, high rise residential vertical, through a unique mobile market network model - providing vital information, products, and services at the tap of a screen. We are the search engine to optimize your home. Zonetail is partnered with Yardi, Shiftsuite and now MRI Software which together account for an estimated 50 million households across North America.
Please visit https://www.zonetail.com.
For more information, please contact:
President and CEO
Telephone: (416) 994-5399
Legal Disclaimer and Forward-Looking Statements
This press release contains forward-looking statements that relate to Zonetail's current expectations and views of future events. In some cases, these forward-looking statements can be identified 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-looking statements. Certain matters discussed in this announcement contain statements, estimates and projections about the growth of Zonetail's business, potential distribution partnerships and/or clients, and related business strategy. Such statements, estimates and projections may constitute forward-looking statements within the meaning of the federal securities laws. Factors or events that could cause our actual results to differ may emerge from time-to-time. Zonetail undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The recipient of this information is cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are based on certain assumptions and analysis made by Zonetail in light of its experience and perception of historical trends, current conditions and expected future developments and other factors Zonetail believes are appropriate and are subject to risks and uncertainties. Although Zonetail believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, prospective purchasers should not place undue reliance on these forward-looking statements.
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