Toronto, Ontario--(Newsfile Corp. - June 3, 2021) - Zonetail Inc. (TSXV: ZONE) (OTCQB: ZTLLF) ("Zonetail" or the "Company") is pleased to announce to date the exercise of 40,629,550 warrants for proceeds of $2,031,478.
As part of a private placement financing completed on June 2, 2020 and July 2, 2020, the Company issued 24,623,600 and 42,119,130 warrants exercisable at a price of $0.05 expiring on June 2, 2021 and July 2, 2021 respectively.
As of June 2, 2021, 24,223,600 warrants, expiring on June 2, 2021, were exercised representing 98.4% of the total warrants issued on June 2, 2020.
As of June 3, 2021, 16,405,950 of the warrants expiring July 2, 2021, have been exercised. There remain 25,713,180 warrants outstanding with an expiry date of July 2, 2021, exercisable at a price of $0.05 for potential proceeds of $1,285,659.
"Zonetail is very pleased with the continued support of its warrant and shareholders alike and the confidence they have shown through the past year. Of the remaining 25,713,180 warrants outstanding, approximately 18.2 million are held by insiders and associates of the Company. The Company believes that the downward pressure on the Company's share price over recent weeks, as a result of the outstanding warrants, has been relieved," said Errol Farr, Zonetail's CFO.
About Zonetail
Zonetail Inc. (TSXV: ZONE) provides mobile platforms for condominiums, apartments and hotels, providing residents and guests access and interaction with building amenities and services as well as essential neighbouring services, restaurants, stores, and other businesses.
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 partnered with Shiftsuite, and is 'live' servicing approximately 85,000 condominium units across Canada. Zonetail also has an integration agreement in place with Yardi Systems, the largest property management software company in the world. Zonetail has offices in Toronto, Ontario and San Dimas, California.
Mark Holmes, President and CEO
Zonetail Inc.
Telephone (Direct): (416) 994-5399
mark@zonetail.com
For more information, please visit https://www.zonetail.com.
Legal Disclaimer and Forward-Looking Statements
This press release contains forward-looking statements that relate to Zonetail's current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "anticipate", "aim", "estimate", "intend", "plan", "seek", "believe", "potential", "continue", "is/are likely to" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Certain matters discussed in this announcement contain statements, estimates and projections about the growth of Zonetail's business, potential distribution partnerships and/or clients, and related business strategy. Such statements, estimates and projections may constitute forward-looking statements within the meaning of the federal securities laws. Factors or events that could cause our actual results to differ may emerge from time-to-time. Zonetail undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The recipient of this information is cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are based on certain assumptions and analysis made by Zonetail in light of its experience and perception of historical trends, current conditions and expected future developments and other factors Zonetail believes are appropriate, and, are subject to risks and uncertainties. Although Zonetail believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, prospective purchasers should not place undue reliance on these forward-looking statements.
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