- Zonetail (ZONE) has amended its private placement for gross proceeds of up to $1 million
- The company is issuing up to 25,000,000 units priced at $0.04 per unit
- The net proceeds will be used for the company’s core business operations
- Zonetail is a mobile platform provider serving residents and guests of high-rise residential buildings
- Zonetail Inc. (ZONE) ended the day trading at C$0.04
Zonetail (ZONE) has amended its previously announced private placement for gross proceeds of up to $1 million.
After consulting with several shareholders, the company has adjusted the price and reduced the number of warrants to be issued.
The company is issuing up to 25,000,000 units priced at $0.04 per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle its holder to purchase one additional share for a period of three years from the closing date of the offering.
The offering is subject to the receipt of all necessary approvals, including the approval of the the Toronto Venture Exchange.
The company may pay finder’s fees in cash and non-transferable warrants.
The net proceeds will be used for the company’s core business operations, including technology development and working capital.
All of the securities issued are subject to a statutory four-month hold period.
It is anticipated that the first tranche of the offering will close on or about September 15, 2022, with a final closing no later than October 15, 2022.
Zonetail is a well-known mobile platform provider serving residents and guests of high-rise residential buildings. The Zonetail platform connects residents to amenities and services through their personal mobile devices.
Zonetail Inc. (ZONE) ended the day trading at C$0.04.