Not for distribution to U.S. Newswire Services or
for dissemination in the United States of America. Any failure to
comply with this restriction may constitute a violation of U.S.
Securities laws.
Zonetail Inc. (formerly Revelstoke Equity Inc.)
(TSXV: REQ.H) (the “Corporation”), is pleased to
announce that the TSX Venture Exchange (the
“Exchange”) has issued its final bulletin (the
“Final Bulletin”) in connection with the
completion of the Corporation’s “Qualifying Transaction” (as such
term is defined in the policies of the Exchange) (the
“Qualifying Transaction”), which was completed on
November 8, 2018. Pursuant to the Qualifying Transaction, the
Corporation completed a combination with Revelstoke Subco Inc., a
wholly-owned subsidiary of the Corporation, and Zonetail Inc.
(“Zonetail”).
As set out in the Final Bulletin, trading in the
common shares of the Corporation (“Common Shares”)
will commence at market open on Thursday, November 22, 2018, under
the new trading symbol “ZONE”. The Corporation will ring the
opening bell on November 26, 2018 at 9:00 a.m. EST.
For further details with respect to the
Qualifying Transaction, please see the filing statement of the
Corporation dated November 5, 2018 prepared in connection with the
Qualifying Transaction (the “Filing Statement”)
and the press releases of the Corporation dated November 7, 2018
and November 8, 2018, each of which has been filed under the
Corporation’s profile at www.sedar.com.
“We are pleased to be listed on the TSX Venture
Exchange and to welcome our new Board of Directors and so many
high-quality shareholders to the Zonetail fold. We are very excited
about the next chapter for Zonetail as a public company, and I’d
like to thank everyone involved who helped us attain this
significant milestone,” stated Mark Holmes, President and CEO.
Zonetail Board of Directors
Mark Holmes – Founder, President, Chief
Executive Officer and Director. Mr. Holmes previously served as
owner and manager of Kingsway Agencies, a leading hospitality
company established in 1960. Mr. Holmes has almost 20 years of
experience in the hotel and retail/restaurant industries.
Paul Scott – Director and Chairman. Mr. Scott
currently serves as President of Scott Analytics. Mr. Scott
previously served as Director of Clients at UCLA Olympic Analytical
Laboratory. Mr. Scott has a J.D. (Doctor of Jurisprudence) from
Rutgers Law School and previously served as an attorney at Sidley,
Austin, Brown and Wood.
William (Chip) Rogers – Director. Mr. Rogers
currently serves as President and CEO of AAHOA, a leading
U.S.-based organization of hotel owners. Mr. Rogers also serves on
the Board of the US Travel Association, the Forbes Nonprofit
Council, California State University Hospitality & Tourism
Management Education Alliance Advisory Panel, the Michigan State
University Hospital Business Real Estate Investment Management
Advisory Council, American Legislative Exchange Council Private
Enterprise Advisory Board, Community Leaders of America Board, and
the HX Advisory Board.
Adam Topp – Director. Mr. Topp currently serves
as Partner and CEO of Benchmark Intelligence Group Inc. (BIG
Healthcare). Mr. Topp has over 25 years of experience in the
healthcare sector; previously serving as Chief Operating Officer at
Winnipeg Health Sciences Centre and Grace General Hospital and Vice
President, Clinical Operations at Sunnybrook Hospital.
Reetu Gupta – Director. Ms. Gupta currently
serves as Chief Executive Officer of the Easton Group of Hotels and
is the Co-Founder and Chief Strategy Officer of Rogue Insight
Capital Ltd.
David Oliver – Director. Mr. Oliver currently
serves as President of Strategic Hospitality Services Inc. and he
also serves on the Board of InTouch Insight Ltd. and the Advisory
Board of Routier Ltd. Mr. Oliver has over 35 years of experience in
the hospitality industry including finance, operations and
development.
Update
Pursuant to the Filing Statement, the
Corporation disclosed that assuming completion of the Qualifying
Transaction, as of the date of the Filing Statement, the
Corporation would have an aggregate of 62,522,930 Common Shares
outstanding, assuming no exercise of outstanding convertible
securities. Between the date of the Filing Statement and the
closing of the Qualifying Transaction, 2,251,200 warrants of
Zonetail were exercised for common shares of Zonetail and were
exchanged for Common Shares in connection with the Qualifying
Transaction. Upon completion of the Qualifying Transaction, there
are 64,774,130 Common Shares issued and outstanding and 11,542,501
warrants exercisable for Common Shares outstanding.
Issuance of Stock Options
The Corporation has also granted today options
(“Options”) to acquire an aggregate of 4,000,000
Common Shares to certain directors, officers and employees of the
Corporation. Details on the Options granted today are noted in the
table below.
Category of Optionee |
|
Number of Options |
|
Exercise Price |
|
Expiry Date |
Officers of
Zonetail |
|
|
|
|
|
|
Mark Holmes, Director
and Chief Executive Officer |
|
1,000,000 |
|
$0.18 |
|
November 20, 2023 |
Brian Davies, Vice
President of Sales |
|
1,000,000 |
|
$0.18 |
|
November 20, 2023 |
Ken Singh, Director of
Business Development |
|
750,000 |
|
$0.18 |
|
November 20, 2023 |
Matt Rice, Chief
Technical Officer |
|
1,000,000 |
|
$0.18 |
|
November 20, 2023 |
All other employees of
Zonetail |
|
250,000 |
|
$0.18 |
|
November 20, 2023 |
TOTAL |
|
4,000,000 |
|
|
|
|
|
|
|
|
|
|
|
About Zonetail Inc.
Zonetail is a mobile technology company that
provides an anchored local mobile platform for hotels and
condominiums. Zonetail provides hotel guests and condo residents
with access to and interaction with building amenities and services
as well as surrounding restaurants, stores, services,
entertainment, and businesses.
For more information please visit
https://zonetail.com/.
Additional Information
For further information please
contact:
Zonetail Inc.:Mark Holmes, President and Chief
Executive OfficerTelephone: (416) 583-3773 ext.
228mark@zonetail.com
Cautionary Statements
This news release contains “forward-looking
information” within the meaning of applicable securities laws
relating to the Corporation’s expectation as to the resumption of
trading of the Common Shares on the Exchange. Although the
Corporation believes in light of the experience of its officers and
directors, current conditions and expected future developments and
other factors that have been considered appropriate that the
expectations reflected in this forward-looking information are
reasonable, undue reliance should not be placed on them because the
Corporation can give no assurance that they will prove to be
correct. Readers are cautioned to not place undue reliance on
forward-looking information. Actual results and developments may
differ materially from those that are currently contemplated by
these statements. The Corporation undertakes no obligation to
comment on analyses, expectations or statements made by
third-parties in respect of the Corporation, its securities, or its
financial or operating results (as applicable). The statements in
this news release are made as of the date of this release.
Neither the TSX Venture Exchange, Inc.
nor its Regulation Services Provider (as that term is defined in
the polices of the TSX Venture Exchange) has in any way passed upon
the merits of the Qualifying Transaction and associated
transactions and neither of the foregoing entities has in any way
approved or disapproved of the contents of this press
release.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
The common shares have not been and will
not be registered under the United States Securities Act of 1933,
as amended and may not be offered or sold in the United States
absent registration or an applicable exemption from the
registration requirement. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful.
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