Zonetail Inc. Announces Extension of Non-Brokered Private Placement and Extension of Maturity of Debentures

About this update from Zonetail, Inc.

[{"type":"text","content":"Zonetail Inc. Announces Extension of Non-Brokered Private Placement and Extension of Maturity of DebenturesToronto, Ontario--(Newsfile Corp. - November 10, 2022) - Zonetail Inc. (TSXV: ZONE) (\"Zonetail\" or the \"Company\"), wishes to announce 30-day extension to November 12, 2022, of its previously announced private placement. The Offering consists of units of the Company (the \"Units\") being issued at a price of $0.04 per Unit, with each Unit being comprised of one common share (a \"Share\") and one half of one (1/2) common share purchase warrant (a \"Warrant\"). Each whole 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 TSX Venture Exchange, as well as the satisfaction of other customary closing conditions, including achievement of the Minimum Proceeds under the Offering. See press releases dated August 26, 2022 and October 5, 2022 and October 13, 2022 for further details.It is anticipated that the final closing of the Offering will occur no later than December 12, 2022. Zonetail will update shareholders when the Offering has been completed and TSXV final approval has been received. There is no assurance that the final tranche of the Offering will be completed on a timely basis or at all.The Company also wishes to announce the extension of the term of its outstanding convertible debentures (the \"Debentures\") to October 15, 2023. Currently there are $160,000 of Debentures outstanding, bearing interest at 12%. The Debentures are convertible, at the option of the Company, into its common shares at a price of $0.06 per share, subject to the approval of the TSX Venture Exchange. About ZonetailZonetail Inc. (TSXV: ZONE) (OTCQB: ZTLLF) is a mobile platform and market network. Our Mission is to provide a state-of-the-art mobile platform that enables high-rise residents to better manage their homes by connecting people to products, amenities, and services. Our Vision is to build a critical mass of users in the hard-to-reach, high rise residential vertical, through a unique mobile market network model - providing vital information, products, and services at the tap of a screen. We are the searc...

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