Welcome to our dedicated page for Zoomaway Technologies news (Ticker: ZMWYF), a resource for investors and traders seeking the latest updates and insights on Zoomaway Technologies stock.
News for ZoomAway Technologies Inc. (ZMWYF) centers on its role as a hospitality and travel technology company and on significant corporate developments affecting its stock. Company releases describe software solutions designed to enhance the planning and engagement of everyday tourists, with particular emphasis on its flagship 3D mobile travel project, ZoomedOUT.
Investors following ZMWYF news will find updates on strategic direction and corporate structure. Past announcements include a binding letter of intent to acquire an Ontario-based specialty retailer, subsequent disclosure that this transaction would not proceed, and a later proposal to pursue a change of business from a technology issuer to an investment issuer focused on high-growth late-stage private businesses, including pre-IPO opportunities. These items are discussed with clear caveats that completion is subject to approvals and may not occur as proposed.
ZoomAway’s news flow also covers capital markets and financing activity, such as a normal course issuer bid to repurchase shares, non-brokered private placements subscribed by its major shareholder and principal lender, and loan facilities and proposed amendments with AIP Convertible Private Debt Fund LP. Additional releases address trading halts and resumptions on the TSX Venture Exchange in connection with potential changes of business.
Governance-related news includes changes to the board of directors, the appointment and resignation of independent directors, and a change of auditor, along with shareholder meeting results. Readers who monitor this page can review how ZoomAway presents its evolving strategy, financing arrangements and board composition over time, all based on the company’s own public disclosures.
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.
ZoomAway Travel Inc. (ZMWYF) has announced the launch of its new product, LoanCache, a comprehensive aggregating website for various loan types. This platform aims to offer more detailed search results compared to existing solutions like Kayak and Lending Tree. It features social relevance by incorporating user ratings and reviews, and it plans to support at least five loan types with potential expansion into business lending. CEO Sean Schaeffer expressed excitement about the company's developments and projects.
ZoomAway Travel Inc. (TSXV:ZMA)(OTCQB:ZMWYF) announces the creation of a new subsidiary, Zoom Tech Incorporated, aimed at expanding software platforms and technology services. The focus is on diversifying revenue streams within technology markets, particularly in fintech and gaming. The first fintech project, LoanCache, will help consumers compare loan options. CEO Sean Schaeffer highlighted commitment to multiple projects, indicating a strong foundation for future growth.
ZoomAway Travel Inc. (OTCQB: ZMWYF) is pursuing a name change to ZoomAway Technologies Inc. and plans a consolidation of shares at a ratio of 1:9. This initiative, already shareholder-approved in December 2020, aims to decrease outstanding shares from approximately 153 million to about 17 million. The board believes this will enhance business development and acquisition flexibility. The company is focusing on diversifying its revenue streams, exploring acquisitions, and leveraging its expertise in various tech sectors, although no operational changes are associated with these moves.
ZoomAway Travel Inc. has successfully completed a shares-for-debt transaction with AIP Convertible Private Debt Fund LP, settling $985,750 in maturing debt by issuing 65,716,666 common shares at $0.015 each, along with corresponding warrants. Following this transaction, AIP now controls approximately 45.00% of the company's outstanding shares. The Debt Settlement was overwhelmingly approved by disinterested shareholders in a meeting held on December 16, 2020. The shares are subject to a hold period of four months and one day.
ZoomAway Travel Inc. (TSXV:ZMA)(OTCQB:ZMWYF) has announced a change to its annual and special meeting of shareholders, now scheduled for December 16, 2020, at 10:00 a.m. (Calgary time) to be held via conference call. This adjustment is due to the recent COVID-19 restrictions in Alberta, aiming to ensure the safety of all stakeholders. Only shareholders as of October 27, 2020, or their proxies can vote. Detailed instructions for participating in the call and voting procedures were provided in the announcement.
ZoomAway Travel Inc. (TSXV:ZMA)(OTCQB:ZMWYF) has announced a shares-for-debt transaction to settle $985,000 of existing debt with AIP Convertible Private Debt Fund. The settlement involves issuing 65,716,666 common shares at $0.015 each and purchase warrants exercisable at $0.05 for five years. Following the transaction, AIP will hold approximately 48.8% of the company. Additionally, a new loan agreement for US$5 million is anticipated for future acquisitions, subject to TSXV and shareholder approval.
ZoomAway Travel Inc. announced a private placement of 4.2 million units at CAD $0.02 per unit, which includes one common voting share and one share purchase warrant. The warrants are exercisable at CAD $0.05 for three years. The first closing is anticipated around October 22, 2020, with expected net proceeds of CAD $72,000 for working capital. No fees will be paid to agents or brokers. Securities will be subject to a four-month hold period. Approval from the TSX Venture Exchange is pending.
ZoomAway Travel Inc. (US: ZMWYF) provided an update regarding its financial agreements and compliance. The company amended its note purchase agreement, allowing it to raise an additional CAD$520,000 by year-end 2020, while confirming compliance with prior covenants. Notably, the planned CAD$5 million acquisition line of credit from AIP Asset Management has been canceled. The company clarified past shareholder resolutions regarding share issuance and canceled 2 million stock options. Trading of its shares is expected to resume shortly, following discussions with the TSXV.