Zonetail Inc. Announces First Closing of Private Placement

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[{"type":"text","content":"Zonetail Inc. Announces First Closing of Private Placement \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, Ontario, March 21, 2025 –\n \n\n TheNewswire -\n \n\n Zonetail Inc.\n(“Zonetail” or the “Company”) (TSXV: ZONE, OTC Pinks: ZTLLF),\nis pleased to announce that it has closed the first tranche of its\npreviously announced private placement (see press releases dated March\n4, 2025).\n \n\n The Company closed a total of $86,630\nby way of the issuance of 4,431,525 common shares. No new insiders\nwere created or finders fees paid as a result of the Closing.\n \n\n\n\n In connection with the Offering, the Company may pay\nfinder’s fees equal to 6% of the gross proceeds in cash and issue 6%\nnon-transferable warrants (the “Finder Warrants”) to various\nregistered dealers or finder’s, representing up to 6% of the shares\nsold through such registered dealers or finders in the Offering. Each\nFinder Warrant will entitle the holder thereof to purchase one (1)\nZonetail Share at a price of $0.05 per share for a period of\nthirty-six (36) months from the closing date of the offering.\n \n\n\n\n The proceeds derived from the sale of the shares will\nbe for the completion of major integration projects currently\nunderway, further development projects, sales efforts, as well as\ngeneral working capital purposes. Assuming aggregate gross proceeds\nare raised, approximately 30% will be used for Non-Arm’s length\nsalaries, 30% for technology additions and 26% for arm’s length\nsalaries and 14% for administration.\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 of the securities issuable in connection with the\nOffering will be subject to a hold period expiring four months and one\nday after the date of issuance of the securities.\n \n\n\n\n The securities offered have not been registered under\nthe United States Securities Act of 1933,...

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