Zonetail Inc. Announces Extension of Private Placement of Shares

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[{"type":"text","content":"Zonetail Inc. Announces Extension of Private Placement of SharesToronto, Ontario--(Newsfile Corp. - October 31, 2023) - Zonetail Inc. (TSXV: ZONE) (OTCQB: ZTLLF) (\"Zonetail\" or the \"Company\"), wishes to announce 30-day extension to November 28, 2023, of its previously announced private placement of non-brokered private placement of up to $1,000,000 in common shares of the Company at a purchase price of $0.02 per Share (the \"Offering\").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 shares 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 $0.05 per share for a period of thirty-six (36) months from the closing date of the offering.The proceeds derived from the sale of the shares will be for the completion of the four major integration projects currently underway as well as general working capital purposes. Assuming aggregate gross proceeds are raised, approximately 15% will be used for Non-Arm's length salaries, 2% for investor relations, 18% for technology additions and 14% for arm's length salaries. 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. Certain insiders of Zonetail may participate in the Offering; however, the total participation by insiders is not expected to exceed 25% of the Offering. 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 States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Vent...

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