Zonetail Announces Second Closing of Private Placement of Shares

About this update from Zonetail, Inc.

[{"type":"text","content":"Zonetail Announces Second 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 –\n \n \n TheNewswire -\n \n \n April 29, 2024 -\n \n \n (TSXV:ZONE\n \n \n )\n \n \n ,\n \n \n (\n \n \n OTC:ZTLLF)\n \n \n - Zonetail Inc. (\"Zonetail\" or the\n\"Company\") is pleased to announce the closing (the\n“Closing”) of the second tranche of non-brokered private placement\nof up to $1,000,000 in common shares of the Company at a purchase\nprice of $0.02 per Share (the \"Offering\"). The Company\nclosed an additional $54,047 of the Offering. This brings the total\nprivate placement to 9,029,800 common shares for gross proceeds of\n$180,596. No new insiders were created as a result of the Closing.\nAdditional tranches are expected to close in May.\n \n \n \n \n The proceeds derived from the sale of the shares will\nbe for the completion major integration projects currently underway\nincluding the recently announced Equifax Reporting Agreement (see\npress release dated January 30, 2024) as well as general working\ncapital purposes. Assuming aggregate gross proceeds are raised,\napproximately 22% will be used for non-arm’s length salaries, 2% for\ninvestor relations, 20% for technology additions and 15% for arm’s\nlength 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 About Zonetail\n \n \n \n \n Zonetail Inc. (TSXV: ZONE, OTCQB: ZTLLF) is a mobile\nplatform 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 connect...

More updates from Zonetail, Inc.