Zonetail Inc. Announces a Non-Brokered Private Placement for up to $500,000

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[{"type":"text","content":"Zonetail Inc. Announces a Non-Brokered Private Placement for up to $500,000Toronto, Ontario--(Newsfile Corp. - December 15, 2022) - Zonetail Inc. (TSXV: ZONE) (OTCQB: ZTLLF) (\"Zonetail\" or the \"Company\"), is pleased to announce that it intends to offer for sale, on a non-brokered private placement basis, securities of the Company (the \"Offering\") consisting of units of the Company (the \"Units\") at a price of $0.04 per Unit, with each Unit being comprised of one common share (a \"Share\") and one whole common share purchase warrant (a \"Warrant\"), for aggregate gross proceeds to Zonetail of a maximum of $500,000 (the \"Maximum Proceeds\"). Each Warrant will entitle its holder to purchase one (1) additional Share of the Company at an exercise price of $0.06, for a period of thirty-six (36) months from the closing date of the Offering. The Offering is subject to the receipt of all necessary approvals, including the approval of the Toronto Venture Exchange (the \"TSXV\"), as well as the satisfaction of other customary closing conditions.Assuming the Maximum Proceeds are raised, the Company will issue 12,500,000 Shares and 12,500,000 Warrants. In connection with the Offering, the Company may pay finder's fees equal to 6% of the gross proceeds in cash and issue 6% non-transferable warrants (the \"Finder Warrants\") to various registered dealers or finder's, representing up to 6% of the Units sold through such registered dealers or finders in the Offering. Each Finder Warrant will entitle the holder thereof to purchase one (1) Zonetail Share at a price of $0.06 per share for a period of thirty-six (36) months from the closing date of the offering with the same expiry provision and the Warrants.A portion of the Offering may be allocated to investors relying on the \"accredited investor\" or other exemptions available to Zonetail under National Instrument 45-106 - Prospectus Exemptions. The proceeds of the Offering, net of expenses, will be used for the Company's core business operations, including the development of the Company's sales channel, technology development and working capital. All of the securities issuable in connection with the Offering will be subject to a hold period expiring four months and one day after the date of issuance of the securities.The securities offered have not been registered under the United State...

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