Zonetail Inc. Announces Debt Settlement

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[{"type":"text","content":"Zonetail Inc. Announces Debt SettlementToronto, Ontario--(Newsfile Corp. - October 15, 2021) - Zonetail Inc. (TSXV: ZONE) (OTCQB: ZTLLF) (\"Zonetail\" or the \"Company\"), is pleased to report the settlement of up to $225,000 of debt through the issuance of common shares of the Company (the \"Debt Settlement\"). Pursuant to the Debt Settlement, the Company would issue 3,750,000 common shares of the Company (the \"Shares\") at a deemed price of $0.06 per Share to convertible debenture holders, on account of principal and accrued interest (the \"Creditors\").After the Debt Settlement, the Company will have $160,000 of its unsecured convertible debentures (the \"Debentures\") outstanding, which have been extended bearing interest at 12%, with a further 12 month term, and providing for a conversion price of $0.06 per share. The notes are convertible if the Company's shares trade in excess of $0.10 over any period of 10 trading days during the term, whether or not consecutive. To date the Debentures have traded in excess of $0.10 for six days. The Company may, at its option, make payment of such interest amounts due in cash or in common shares, subject to the receipt of any required regulatory or stock exchange approvals. The issuance of the Shares to the Creditors and the extension of the balance of the Debentures is subject to the approval of the TSX Venture Exchange. All securities issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.Zonetail Inc. (TSXV: ZONE), (OTCQB: ZTLLF) is a mobile platform for hotels and high-rise residential buildings providing guests and residents access and interaction with building amenities and services, as well as neighbouring restaurants, stores, services, and other businesses. Zonetail has a partnership with AAHOA, the largest association of hoteliers in the world, representing over 25,000 hotels and 50% of the US market. Zonetail is also partnered with Shiftsuite, one of the largest property management system software providers to the condo industry in Canada. The residential platform is now live in over 80,000 condominium households. Zonetail recently has signed an integration agreement with Yardi, the largest property management software company in North America.Please visit https://www.zonetail.com....

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