Tickers: XTSX:ZMA, PINX:ZMWYF
Tags: #Travel
VANCOUVER, BC - TheNewswire - July 18, 2019 - ZoomAway Travel Inc. (TSXV:ZMA) (the "Company") www.zoomaway.com, an innovator in the hospitality technology sector, has received notification from IIROC that trading was halted today as a result of incomplete information in the Company's earlier press release. Namely, the release did not include the agreement terms and other relevant information.
To further clarify the Company's earlier press release, the agreement signed is binding upon the parties and was signed on July 9, 2019. The terms Zoomaway has agreed to are a 12 month license term that will automatically renew for 2 consecutive 12 month terms with a 6% revenue share and has agreed to pay the standard one time $250,000 (US) fee at the time of ZoomedOUT's publication to the app stores which is slated for Q1 2020. The Company may seek additional funds for the app's completion. A more formal news release is being reviewed by both firms' legal teams and will be released upon approval and could take several weeks.
As to the issue of revenue's and revenue projections, the company has its revenue projections prominently displayed on its website and has referenced those projections in it's April 25th press release announcing the launch of the new Corporate website. Those projections have not changed.
Sean Schaeffer, CEO of Zoomaway Travel stated "I approved this release and realized that the information missing from the earlier release should have been there, we are taking all of the necessary steps to work with IIROC to get trading moving forward again. I would like to thank everyone for their patience, and their continued support."
For additional information contact: Sean Schaeffer, President, ZoomAway Inc.,
at 775-691-8860 | sean@zoomaway.com or stay up-to-date and sign up for our newsletter.
About Us
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 sean@zoomaway.com 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.
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.
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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FOR IMMEDIATE RELEASE IN CANADA
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