TORONTO, Nov. 21, 2018 (GLOBE NEWSWIRE) --
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 Officer
Telephone: (416) 583-3773 ext. 228
mark@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.