Zonetail Inc. announced a non-brokered private placement of 75,000,000 common shares at a price of CAD 0.02 for the maximum gross proceeds of CAD 1,500,000 on April 19, 2023. The offering is subject to the receipt of all necessary approvals, including the approval of the Toronto Venture Exchange, as well as the satisfaction of other customary closing conditions. As a part of transaction, the company may pay finder's fees equal to 6% of the gross proceeds in cash and issue 6% non-transferable warrants to various registered dealers or finder's, representing up to 6% of the shares sold through such registered dealers or finders in the offering.

Each finder warrant will entitle the holder thereof to purchase one share at a price of CAD 0.05 per share for a period of 36 months from the closing date of the offering. Certain insiders of the company may participate in the offering, however, the total participation by insiders is not expected to exceed 25% of the offering. All of the securities issuable in connection with the offering will be subject to a hold period expiring four months and one day after the date of issuance of the securities.

It is anticipated that the first closing of the offering will occur on or about April 30, 2023, with a final closing no later than June 3, 2023.