Zonetail Announces Closing Private Placement of Shares

Impact · against what's priced in

Zonetail is struggling to complete its capital raise, having secured only $397,500 of a $1,000,000 target and requiring a 30-day extension. The allocation of 22% of proceeds to non-arm's length salaries further weakens the investment profile.

ZONE−0.40

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In context

The company has only raised $397,500 of its $1,000,000 target and must extend its deadline to December 24, indicating weak investor demand. Furthermore, directing 22% of these limited funds toward non-arm's length salaries is a governance red flag.

Read from the article alone

• ZONE
• canada
• capital raise
• common shares
• financing
• mobile platform
• private placement
• proptech
• tsx venture
• working capital

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