Zonetail Announces Final Closing of Private Placement of Shares

About this update from Zonetail, Inc.

[{"type":"text","content":"Zonetail Announces Final Closing of Private Placement of Shares\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 – May 3, 2024 –\n \n \n TheNewswire -\n \n \n (TSXV:ZONE,\nOTCQB:ZTLLF)\n \n \n - Zonetail Inc.\n(\"Zonetail\" or the \"Company\") is pleased to\nannounce the closing (the “Closing”) of the third and final\ntranche of non-brokered private placement of up to $1,000,000 in\ncommon shares of the Company at a purchase price of $0.02 per Share\n(the \"Offering\"). The Company closed an additional $27,272\nof the Offering. This brings the total private placement to 10,393,400\ncommon shares for gross proceeds of $207,868. No new insiders were\ncreated as a result of the Closing.\n \n \n \n \n The proceeds derived from the sale of the shares will\nbe for the completion\n \n \n of\n \n \n major integration projects currently underway including the\nrecently announced Equifax Reporting Agreement (see press release\ndated January 30, 2024) as well as general working capital purposes.\nAssuming aggregate gross proceeds are raised, approximately 22% will\nbe used for non-arm’s length salaries, 2% for investor relations,\n20% for technology additions and 15% for arm’s length salaries.\n \n \n \n \n A portion of the Offering may be allocated to investors\nrelying on the “accredited investor” or other exemptions available\nto Zonetail under National Instrument 45-106 – Prospectus\nExemptions.\n \n \n \n \n Certain insiders of Zonetail may participate in the\nOffering; however, the total participation by insiders is not expected\nto exceed 25% of the Offering.\n \n \n \n \n All securities issuable pursuant to the Offering,\nincluding the Finders Warrants and the Shares, if any, issuable on\ntheir exercise are subject to a four month and one day hold period\nfrom the date of issuance in accordance with applicable Canadian\nsecurities laws.\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, OTCQB: ZTLLF) is a mobile\...

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