ZoomAway Announces Additional Conversion of Notes into Equity
VANCOUVER, BC - October 11, 2019 - ZoomAway Travel Inc. (TSXV:ZMA) (OTC:ZMWYF) (the "Company" or "ZMA") www.zoomaway.com, a leader in the hospitality technology sector, is pleased to announce that it has further strengthened its balance sheet through the partial conversion of outstanding convertible notes into equity.
AIP Global Macro Fund LP. (the "Note Holder") today converted CDN $250,000 of the outstanding convertible notes at a strike price of 0.08. The Company will be issuing 3,125,000 common shares to the Note Holder.
To date, the Note Holder has converted CDN $360,000 of the approximate CDN $1 million (US$750,000) of convertible notes issued in April 2019.
Sean Schaeffer, CEO of Zoomaway Travel, commented, "We are very pleased with the continued confidence from the holder of our convertible debt, who has now converted over 1/3 of this debt into stock. Their continuing support is allowing us to move our ZoomedOUT project forward."
For additional information contact: Sean Schaeffer, President, ZoomAway Inc.,
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 (Canadian Co.) is a ZoomAway Travel, Inc. subsidiary company dedicated to housing new projects in the digital games. The company's first project is ZoomedOUT which can be seen at 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.
About Zero8 Studios, Inc.
Zero8 Studios, based in Reno, Nevada, specializes in new and innovative games and technology platforms. With a focus on social gaming and almost two decades of experience building
countless game titles, gaming platforms, and various technologies. The Zero8 Studios' team has assisted dozens of AAA publishers, large clientele, manufacturers, and casinos in the design, production, and delivery of their products to players around the world. Additional information can be found at www.zero8studios.com.
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.
Neither the TSX Venture Exchange nor it's Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Offering and has neither approved nor disapproved the contents of this press release.
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