ZOOMAWAY TECHNOLOGIES INC - ZMWYF STOCK NEWS

ZoomAway Technologies Inc. plans to complete a non-brokered private placement of 3,000,000 units at a price of $0.05 per unit, raising total gross proceeds of $150,000. Each unit consists of one common share and one common share purchase warrant. The proceeds will be used for working capital purposes. AIP Convertible Private Debt Fund LP, the company's major shareholder, will subscribe to all units offered. AIP's ownership will increase from 46.96% to 55.19% on a non-diluted basis and to 70.77% on a fully-diluted basis.

ZoomAway Technologies Inc. has chosen not to pursue the acquisition of an Ontario retailer and has applied to resume trading of its shares. The company has received an extension on its Notes and additional financial support from AIP. A shareholder meeting is scheduled for December 1, 2023, and trading of the company's common shares will resume on October 26, 2023.

ZoomAway Technologies Inc. (OTCQB:ZMWYF) has entered into a binding letter of intent to acquire a privately-held specialty retailer in Ontario as of April 5, 2022. The transaction will lead to a spin-off of its current business, Zoom Tech Inc., focusing on hospitality technology. Trading of ZMWYF shares is halted pending TSXV approval. Completion of the deal is contingent on due diligence, definitive agreements, and necessary approvals. The Company aims to explore further acquisitions to enhance its market position.

ZoomAway Technologies Inc. has appointed Jeremy Green as an independent director, effective immediately, pending TSX Venture Exchange acceptance. Green's extensive experience in North American capital markets and finance will play a crucial role in ZoomAway's strategy for seeking strategic acquisitions. CEO Sean Schaeffer emphasized that Green's expertise in digital banking and customer experience will significantly benefit the company during this transformative period. ZoomAway continues to innovate in the travel technology space, aiming to enhance user experiences.

ZoomAway Technologies Inc. held its annual general and special meeting on December 20, 2021, where shareholders approved key measures. Notably, 99.85% voted to fix the board size at five directors and elect Jay Bala, Alex Kanayev, Sean Schaeffer, Steven Rosenthal, and Mason Shan. MNP LLP was appointed as the auditor with a 99.97% approval. The continuation of the share option plan also received 99.85% support. Approximately 58.95% of shares voted, totaling 9,757,723 shares. Further details are accessible through the Corporation's management information circular.

ZoomAway Technologies Inc. (TSXV:ZMA)(OTCQB:ZMWYF) is enhancing its corporate strategy with a focus on the recovering hospitality sector and strategic acquisitions. CEO Sean Schaeffer expresses optimism about upcoming opportunities as the company prepares for 2022. Despite lingering pandemic effects, hotel demand is nearing pre-pandemic levels. All large group outings are prepaid for next year, indicating a strong recovery. The company is also developing the ZoomedOUT platform and has initiated a new subsidiary, Zoom Tech Inc., to support its acquisition strategy.

ZoomAway Technologies Inc. (TSXV:ZMA, OTCQB:ZMWYF) has announced a change in auditors from Davidson & Company LLP to MNP LLP. The resignation of the former auditor was effective from August 30, 2021, and the new auditor will serve until the next annual general meeting. Notably, there were no reservations in the former auditor's reports for the past two financial years. A Change of Auditor Notice has been filed on SEDAR, and both auditors have confirmed agreement with the statements in the notice.

ZoomAway Technologies Inc. (TSXV:ZMA)(OTCQB:ZMWYF) has received approval from the TSX Venture Exchange to initiate a normal course issuer bid (NCIB) starting June 8, 2021. The company plans to repurchase up to 852,001 common shares, approximately 5% of its total shares, until June 7, 2022, or until the maximum is acquired. The buyback aims to enhance shareholder value, given the belief that market prices do not reflect the company's underlying value. Additionally, ZoomAway has engaged DeCosta Global Media for digital marketing, incurring a monthly fee of $5,000.

ZoomAway Travel Inc. (TSXV:ZMA) will change its name to ZoomAway Technologies Inc. and consolidate its common shares, effective April 16, 2021. The consolidation ratio is 1 post-consolidated share for every 9 pre-consolidated shares, reducing outstanding shares from 153,360,338 to approximately 17,040,038. The stock will continue to trade under the symbol 'ZMA.' Shareholders will receive instructions from the transfer agent for the share exchange. The company aims to enhance its technology solutions in the travel and hospitality industries.