Business
Zonetail Announces First Closing of Private Placement of Shares
(TheNewswire) Not for distribution to the United States TORONTO, Ontario, September...
About this update from Zonetail, Inc.
[{"type":"text","content":"Zonetail Announces First 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 Not for distribution to the United States\n \n\n\n\n TORONTO, Ontario, September 27, 2024 –\n \n\n TheNewswire –\n \n\n Zonetail Inc.\n(\"Zonetail\" or the \"Company\") is pleased to\nannounce the closing (the “Closing”) of the first tranche of a\nnon-brokered private placement of up to $1,000,000 in common shares of\nthe Company at a purchase price of $0.02 per Share (the\n\"Offering\"). The Company closed $165,000 of the Offering. No\nnew insiders were created as a result of the Closing. Additional\ntranches are expected to close in October.\n \n\n\n\n The proceeds derived from the sale of the shares will\nbe for the completion of major integration projects currently\nunderway, further development projects, sales efforts, as well as\ngeneral working capital purposes. Assuming aggregate gross proceeds\nare raised, approximately 30% will be used for Non-Arm’s length\nsalaries, 5% for investor relations, 30% for technology additions and\n26% 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 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 to\nbetter manage their homes by connecting people to products, amenities,\nand services. Our Vision is to build a critical mass of users in the\nhard-to-reach, high rise residential vertical, through a unique mobile\nmarket network model - providing vital information, products, and\nservices at the tap of a screen. We are the search engine to optimize\nyour home. Zonetail is partnered with Yardi, Shiftsuite and now MRI\nSoftware which together account for an estimated 50 million households\nacross North America.\n \n\n\n\n Please visit\n \n\n\n https...