Zonetail Announces Closing of Private Placement of Shares

About this update from Zonetail, Inc.

[{"type":"text","content":"Zonetail Announces Closing of Private Placement of SharesToronto, Ontario--(Newsfile Corp. - September 8, 2023) - Zonetail Inc. (TSXV: ZONE) (OTCQB: ZTLLF) (\"Zonetail\" or the \"Company\") is pleased to announce the closing (the \"Closing\") of its non-brokered private placement of up to $1,500,000 in common shares of the Company at a purchase price of $0.02 per Share (the \"Offering\"). The Company closed a total of $274,859, including the $132,000 previously announced on June 8, 2023, of the Offering. No new insiders were created as a result of the Closing. The Company has been closing financings in tranches in order to minimize shareholder dilution.A portion of the Offering was allocated to investors relying on the \"accredited investor\" or other exemptions available to Zonetail under National Instrument 45-106 - Prospectus Exemptions. The Company has also paid eligible finders (\"Finders\") from the first tranche, all of whom are at arm's length to the Company and its insiders within the meaning of Policy 5.1 of the TSX Venture Exchange (the \"Exchange\"), cash compensation as finders fees of $2,820 and has issued an aggregate of 141,000 finders warrants of the Company (\"Finders Warrants\"). Each Finder Warrant entitles the holder to purchase one Share of the Company at an exercise price of $0.05, for a period of thirty-six (36) months from the closing date of the Offering. All securities issuable pursuant to the Offering, including the Finders Warrants and the Shares, if any, issuable on their exercise are subject to a four month and one day hold period from the date of issuance in accordance with applicable Canadian securities laws.About ZonetailZonetail 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....

More updates from Zonetail, Inc.