Business
Revelstoke Equity Inc. Announces Closing of Zonetail Inc. Subscription Receipt Financing
Revelstoke Equity Inc. Announces Closing of Zonetail Inc. Subscription Receipt Financing ...
About this update from Zonetail, Inc.
[{"type":"text","content":"\n\n\n\nRevelstoke Equity Inc. Announces Closing of Zonetail Inc. Subscription Receipt Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, July 13, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./\n\n\n\nTORONTO, July 13, 2018 /CNW/ - Revelstoke Equity Inc. (TSXV: REQ.H) (the \"Corporation\" or \"Revelstoke\") announces that, further to its press release dated July 12, 2018 (the \"Previous Press Release\"), Zonetail Inc. (\"Zonetail\") has closed its previously announced brokered private placement of 11,130,092 subscription receipts of Zonetail (\"Subscription Receipts\") for gross proceeds of $2,003,416.56 (the \"Private Placement\") pursuant to an Agency Agreement dated July 13, 2018 (the \"Agency Agreement\") among the Corporation, Zonetail, Gravitas Securities Inc. (\"Gravitas\"), acting as co-lead agent with Canaccord Genuity Corp. for the Private Placement, and with Beacon Securities Limited (collectively, the \"Agents\"). In connection with their services to Zonetail with respect to the Private Placement, the Agents have been compensated pursuant to the Agency Agreement as was previously disclosed in the Previous Press Release.\n\nThe Private Placement was completed as a condition to the Corporation's \"Qualifying Transaction\" (as such term is defined in the policies of the TSX Venture Exchange) pursuant to which the Corporation and Zonetail are expected to combine their business operations (the \"Transaction\"). Upon completion of the Qualifying Transaction, the combined entity (the \"Resulting Issuer\") will continue to carry on the business of Zonetail. For further details on the Transaction, please see the Previous Press Release. \n\nEach Subscription Receipt will be automatically exchanged immediately prior to the completion of the Transaction (without any further action by the holder of such Subscription Receipt and for no further p...