Zonetail Inc. announced a non-brokered private placement of up to 1,000 convertible series A 20% secured notes at a price of CAD 1,000 per note for gross proceeds of up to CAD 1,000,000 on March 13, 2023. Officers and directors considered insiders of the Company, may participate in the Offering. The notes will be repayable two years from the closing of the Offering.

The maturity date for repayment of the Notes may be extended, at the option of the Company, for up to an additional 12 months, on payment of additional interest at the rate of 2% for such extension period. The principal amount of each Note and all accrued and unpaid interest, as maybe outstanding, may be converted into common shares of the Corporation, with each Share priced at CAD 0.05 per Share for the first year from closing and CAD 0.10 per Share thereafter.