Zonetail Announces Amendment of Debentures Terms and Extension Period of Warrants

(via TheNewswire)

Zonetail Inc.

Toronto, Canada – TheNewswire – April 3, 2024- (TSXV:ZONE, OTCPinks:ZTLLF) – Zonetail Inc. (“Zonetail” or the “Company”) is pleased to announce amendment to the terms of a non-brokered private placement of its Series A 20% secured notes (“Notes”) (see press release dated April 24, 2023). The Company closed $203,800 of the Notes with insiders subscribing for $115,500 or 57% of the Offering.

Interest on the Notes is payable in cash on the anniversary of each note. The Note Holders have agreed to defer the first year’s interest (the “Deferred Amount”) on the Note until the Notes mature in April 2025. The Deferred Amount will bear interest at 20% per annum.

Included with the Notes, the Company issued 4,076,000 warrants (the “Warrants”) with each Warrant exercisable into one (1) common share of the Company for one year from the closing date at an exercise price of $0.05 per warrant. The Company has applied to the TSX Venture Exchange to extend the expiry period of the Warrants for an additional 1 year, to April 2025.

All other terms of the Notes and Warrants remain unchanged.

The issuance of securities to insiders pursuant to the Offering (“Insider Participation”) is considered to be a related party transaction within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 (“MI 61-101”). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(g) and 5.7(1)(e) of MI 61-101 in respect of the Insider Participation.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Zonetail

Zonetail Inc. (TSXV: ZONE) (OTCPinks: ZTLLF) is a mobile platform and market network. Our Mission is to provide a state-of-the-art mobile platform that enables high-rise residents to better manage their homes by connecting people to products, amenities, and services. Our Vision is to build a critical mass of users in the hard-to-reach, high rise residential vertical, through a unique mobile market network model – providing vital information, products, and services at the tap of a screen. We are the search engine to optimize your home. Zonetail is partnered with Yardi, Shiftsuite and now MRI Software which together account for an estimated 50 million households across North America.

Please visit https://www.zonetail.com.

For more information, please contact:

Mark Holmes, President and CEO, Zonetail Inc.

T: (416) 994-5399 E: mark@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.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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