Toronto, Ontario – TheNewswire - July 15, 2024 - Zonetail Inc. (“Zonetail” or the “Company”) (TSXV: ZONE) (OTC Pinks: ZTLLF) provides an update on the relisting of its common shares on the TSX Venture Exchange (the “Exchange”). On May 7, 2024, the Ontario Securities Commission (the "OSC") issued a failure-to-file cease trade order (the "FFCTO") against the Company under Multilateral Instrument 11-103 - Failure-to-File Cease Trade Orders in Multiple Jurisdictions. The FFCTO was issued as a result of the Company's delay in filing its annual financial statements, accompanying MD&A and CEO and CFO certifications for the fiscal year ended December 31, 2023 (the "Required Filings") beyond the regulatory deadline of April 29, 2024.

 

On June 28, 2024, the OSC revoked the FFCTO after the Company released its Required Filings. Trading of the Company’s common shares resumed in the United States on the OTCPinks, where it closed on Friday, July 12, 2024, at US$0.056.

 

Since June 28, 2024, the Company has been working with the Exchange to satisfy its re-listing requirements. There have been numerous requests for information received from the Exchange, which the Company has diligently provided. Following this issuance of this press release, the Exchange will proceed with the issuance of a reinstatement bulletin, and trading will take effect two business days after the bulletin date.  

 

The Company wishes to provide additional details related to the appointment of Frontier Flex Marketing (2612130 Ontario Ltd.), part of the Frontier Merchant Capital Group ("Frontier"), as a marketing consultant which was press released on October 19, 2023.

 

Frontier and the Company are unrelated and to the best of the Company’s knowledge Frontier or its principles have not, directly or indirectly acquired any of the Company’s securities, nor have they any right or intent to acquire such an interest. Frontier was retained for a 12-month period, commencing October 1, 2023, at $96,000 plus direct expenses, with a payment of $50,000 on signing (paid) and quarterly payments of $15,333 (unpaid). The appointment was suspended, by mutual consent on January 1, 2024.

 

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) (OTC Pink: 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.