Business
Zonetail Responds to Belgravia Press Release of November 1, 2019
Toronto, Ontario--(Newsfile Corp. - November 6, 2019) - Zonetail Inc. (TSXV: ZONE ) (the "Com...
About this update from Zonetail, Inc.
[{"type":"text","content":"\nZonetail Responds to Belgravia Press Release of November 1, 2019Toronto, Ontario--(Newsfile Corp. - November 6, 2019) - Zonetail Inc. (TSXV: ZONE) (the \"Company\" or \"Zonetail\") responds to Belgravia Capital International Inc. (\"Belgravia\") press release and demand notice. On November 1, 2019, Belgravia issued a press release updating the markets on a promissory note Zonetail has with Belgravia in the amount of $325,000, that matured on November 1, 2019. Also, on November 1, 2019, Zonetail received a demand notice from Belgravia for full repayment of the promissory note, plus interest. Zonetail notified Belgravia on November 1, 2019, through its counsel, that the Company intends to vigorously defend any claim Belgravia intends to make. Zonetail has asserted a right of off-set based on its position that Belgravia has breached the parties' management services agreements, for which Belgravia was paid by Zonetail, Belgravia's lack of investor relations guidance and for other wrongdoing, caused and continues to cause substantial consequential damages to the Company. Zonetail has retained the services of Borden Ladner Gervais LLP as counsel, to pursue compensation for its losses and damages.About ZonetailZonetail is a mobile platform for hotels and condominiums providing guests and residents access and interaction with building amenities and services as well as neighboring restaurants, stores, services, and attractions. Zonetail is partnered 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, with approximately 2,000 condo buildings, representing an estimated 400,000 units. Zonetail has offices in Toronto, Ontario and San Dimas, California. For more information, please visit https://www.zonetail.com. Zonetail trades under the symbol \"ZONE\" on the Toronto Venture Stock Exchange.Zonetail Press ContactMark Holmes, President and CEO Zonetail Inc.Telephone: (416) 583-3773 ext. 228 [email protected] StatementsThis press release contains \"forward-looking information\" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respec...