Zonetail Announces Amendment of Debentures Terms and Extension Period of Warrants

About this update from Zonetail, Inc.

[{"type":"text","content":"Zonetail Announces Amendment of Debentures Terms and Extension Period of Warrants\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Toronto, Canada – March 27, 2025 –\n \n\n TheNewswire -\n \n\n (TSXV:ZONE,\nOTCPinks:ZTLLF)\n \n\n - Zonetail Inc.\n(\"Zonetail\" or the \"Company\") is pleased to\nannounce amendment to the terms of a non-brokered private placement of\nits Series A 20% secured notes (\"Notes\") (see press release\ndated April 24, 2023 and April 3, 2024). The Company closed $203,800\nof the Notes with insiders subscribing for $115,500 or 57% of the\nOffering.\n \n\n\n\n Interest on the Notes is payable in cash on the\nanniversary of each note. The Company intends to ask the Note Holders\nto defer the first and second year’s interest (the “Deferred\nAmount”) on the Note and extend the maturity of the Notes until\nApril 2026. The Deferred Amount will bear interest at 20% per annum.\n \n\n\n\n Included with the Notes, the Company issued 4,076,000\nwarrants (the “Warrants”) with each Warrant exercisable into one\n(1) common share of the Company for one year from the closing date at\nan exercise price of $0.05 per warrant. The Company has applied to the\nTSX Venture Exchange to extend the expiry period of the Warrants for\nan additional 1 year, to April 2026.\n \n\n\n\n All other terms of the Notes and Warrants remain\nunchanged.\n \n\n\n\n The issuance of securities to insiders pursuant to the\nOffering (\"Insider Participation\") is considered to be a\nrelated party transaction within the meaning of TSXV Policy 5.9 and\nMultilateral Instrument 61-101 (\"MI 61-101\"). The Company is\nrelying on the exemptions from the valuation and minority shareholder\napproval requirements of MI 61-101 contained in Sections 5.5(g) and\n5.7(1)(e) of MI 61-101 in respect of the Insider Participation.\n \n\n\n\n Neither the TSX Venture Exchange nor\nits Regulation Services Provider (as that term is defined in the\npolicies of the TSX Venture Exchange) accepts responsibility for the\nadequacy or accuracy of this release.\n \n\n\n\n About Zonetail\n \n\n\n\n Zonetail Inc. (TSXV: ZONE) (OTC Pinks: ZTLLF) is a\nmobile platform and market network. Our Mission is to provide a\nstate-of-the-art mobile platform that enables high-rise residents...

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