Not For Dissemination Or Release In The United States
VANCOUVER, BC / ACCESSWIRE / August 21, 2019 / ZoomAway Travel Inc. (the "Company") has completed its previously announced private placement of 6,000,000 Units for gross proceeds of $480,000. The Company sold the units at a price of $0.08 per Unit, with each unit consisting of one (1) common voting share of the Company together with one full warrant, each warrant entitling the holder to acquire an additional common voting share at a price of $0.10 per share for one year after closing (the “Units”).
The Private Placement is subject to final approval by the TSX Venture Exchange. All securities issued pursuant to the Private Placement are subject to a four month hold period from the date of the issuance.
Sean Schaeffer, the Company’s CEO, said, “I’m very excited about the interest in our Company and our project, and am very excited to get this Private Placement closed. We continue to move forward with our plans and we appreciate all of the support from our shareholders.”
The net proceeds are estimated at $425,000 (after paying legal, accounting and administrative fees in relation to the private placement). Mr. Mark Riden, a member of the Company’s Board of Directors, purchased a total of 212,500 Units for $17,000. This insider investment constituted 3.5% of the Offering, and results in his owning 0.7% of the issued and outstanding shares of the Company post-offering (1.0% fully diluted).
ZoomAway, Inc. (Nevada Co.) provides leading hotels, golf resorts, ski resorts, and activity providers with a seamless, scalable, and fully integrated technology platform that allows for the discounted packaging of lodging, ski, golf, activities, and attractions. It seamlessly integrates into client websites, providing their customers with a real time one-stop shop for all of their travel and recreational needs. Additional information about ZoomAway Inc. can be found at www.zoomaway.com.
Travel Game Blockchain Inc. (Canadian Co.) is a new ZoomAway Travel, Inc. subsidiary company dedicated to housing new projects in the digital games and blockchain formats. The companies first proposed project is ZoomedOUT which can be seen at www.zoomedout.io. To receive more detailed, or investor level information, please contact us at [email protected] and we will respond with the appropriate documentation depending on your request.
Forward Looking Statements
This release includes certain statements that may be deemed “forward-looking statements. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.