Monthly Archives

December 2020

ZoomAway Closes US$5 Million Secured Loan And Announces End Of Incentive Share Program

By | Press Releases | No Comments

VANCOUVER, BC / ACCESSWIRE / December 31, 2020 / ZoomAway Travel Inc. (TSXV:ZMA)(OTCQB:ZMWYF) (the “Company” or “ZMA“) www.zoomaway.com, is pleased to announce that it has closed its previously announced secured loan facility for the principal amount of US$5 million (the “Facility“) with AIP Convertible Private Debt Fund LP (“AIP“). The Facility has a term of 24 months, bears interest at the rate of 5% per annum and is secured by a general security agreement on all of the present and future assets of the Company.

Upon closing of the Facility, the Company paid to AIP (i) a due diligence fee of US$100,000; (ii) a facility fee of US$100,000; and (iii) a closing payment of US$1,800,000. The Company intends to use the proceeds of the Facility for general working capital purposes and to pursue future acquisitions.

The Company also announces that its 2016 Incentive Share Plan, created at the time of the Company’s transaction with Multi-Vision Communications Corp., will not be extended and will expire effective December 31, 2020.

Of the 16,000,000 common shares underlying the plan, 11,000,000 “entitlements” to such shares have vested and common shares will be issued to the current or former directors, officers, employees or consultants that hold such vested incentive share grants. The non-cash costs associated with these grants will be reflected in the Company’s fourth quarter (and therefore 2020 annual) financial statements.

These common shares are being issued subject to a statutory hold period expiring on the date that is four months and one day after the effective distribution date of December 31, 2020. None of these common shares will be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

States Sean Schaeffer, ZoomAway’s CEO, “The closure of this facility affords us with a great opportunity. We anticipate having a great 2021 and are grateful to close 2020 on a positive note. Happy New Year to all of our shareholders.”

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.) Zoomaway Travel Inc. is a technology company that is revolutionizing the Hospitality and Travel Industries. We have developed a variety of software solutions that enhance the planning and engagement of everyday tourists. Our flagship project, ZoomedOUT, is a complete modernization and re-imagination of mobile travel apps. In a full 3D environment, we are able to integrate planning, booking, social media, and camaraderie into a tangibly rewarding experience. We are combining Travel, Hospitality, Mobile Gaming and Augmented Reality to change the way users travel into 2020 and beyond. Additional information about ZoomAway Inc. can be found at www.zoomaway.com.

ZMA Travel Game Inc. (Canadian Co.) (formerly TravelGameBlockChain Technology Inc.) is a ZoomAway Travel Inc. subsidiary company dedicated to housing new projects in the digital games. The company’s first project is ZoomedOUT, being developed with the assistance of Zero8 Studios, Inc., 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.

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.

ZoomAway Announces Results Of Annual And Special Meeting Of Shareholders

By | Press Releases | No Comments

VANCOUVER, BC / ACCESSWIRE / December 21, 2020 / ZoomAway Travel Inc. (TSXV:ZMA)(OTCQB:ZMWYF) (the “Company” or “ZMA“) www.zoomaway.com, is pleased to announce the results of its Annual and Special Meetings of Shareholders held on December 16, 2020 (the “Meeting“). All matters submitted to the shareholders for approval as set out in the Company’s Notice of Meeting and Information Circular dated November 18, 2020 were approved by an overwhelming majority of votes cast at the Meeting. In summation:

Number of Directors

Shareholders approved the fixing of the number of directors to be elected at the Meeting at six.

Election of Directors

Sean Schaeffer (President and CEO) and Steve Rosenthal (CFO) were both retained as directors of the Company. In addition, four new directors were elected by shareholders, namely: Jay Bala, Alex Kanayev, Mason Shan, and Josh Almario.

Appointment of Auditors

Davidson & Co. LLP were reappointed as Auditors of the Company for the ensuing year with their remuneration to be fixed by the Board of Directors.

Reconfirmation of the Company’s Share Option Plan

Shareholders approved the Company’s “rolling 10%” share option plan.

Name Change of the Company

Shareholders adopted a special resolution approving the ability for the Company to change its name to “ZoomAway Technologies Inc.” or such other name that may be acceptable to the regulatory authorities and approved by the directors of the Company in their discretion.

New Loan Facility

Disinterested shareholders approved a new US$5 million loan facility with AIP Convertible Private Debt Fund L.P. (“AIP“).

Settlement of AIP Debt and the Creation of a New “Control Person”

Finally, the settlement of $985,750 of debt currently held by AIP through the issuance by the Company of common shares and warrants to AIP and the creation of AIP as a new “Control Person” (as such term is defined in the policies of the TSX Venture Exchange) of the Company were approved by disinterested shareholders.

Sean Schaeffer, Company CEO stated, “First I would like to thank our outgoing directors, Mark Riden and Christa Jones. They have been incredible to work with. They have both made amazing contributions to the Company over the last few years, and I am personally indebted to their kindness and knowledge. I would like to welcome our new board members, as well, and am looking forward to learning from them and leaning on their experiences in the upcoming years.” Schaeffer continued, “As for the other major items on this year’s docket, I want to thank our partners at AIP for their belief in us over the last two years and for their vision and commitment to this Company going forward. I truly believe that there are great things on the horizon for all ZoomAway shareholders.”

For more information on the matters approved at the Meeting, please refer to the proxy materials in respect of the Meeting which are available on SEDAR at www.sedar.com and have also been posted on the Company’s website at www.zoomaway.com.

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.) Zoomaway Travel Inc. is a technology company that is revolutionizing the Hospitality and Travel Industries. We have developed a variety of software solutions that enhance the planning and engagement of everyday tourists. Our flagship project, ZoomedOUT, is a complete modernization and re-imagination of mobile travel apps. In a full 3D environment, we are able to integrate planning, booking, social media, and camaraderie into a tangibly rewarding experience. We are combining Travel, Hospitality, Mobile Gaming and Augmented Reality to change the way users travel into 2020 and beyond. Additional information about ZoomAway Inc. can be found at www.zoomaway.com.

ZMA Travel Game Inc. (Canadian Co.) (formerly TravelGameBlockChain Technology Inc.) is a ZoomAway Travel Inc. subsidiary company dedicated to housing new projects in the digital games. The company’s first project is ZoomedOUT, being developed with the assistance of Zero8 Studios, Inc., 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.

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.

ZoomAway Announces Change To Conference Call For Annual Meeting Of Shareholders

By | Press Releases | No Comments

VANCOUVER, BC / ACCESSWIRE / December 10, 2020 / ZoomAway Travel Inc. (TSXV:ZMA)(OTCQB:ZMWYF) (the “Company” or “ZMA“) www.zoomaway.com, announced today that it has changed the format of its upcoming annual and special meeting of shareholders to be held on Wednesday, December 16, 2020 at 10:00 a.m. (Calgary time) to a Conference Call meeting. Shareholders may attend and participate in the meeting via a conference call but will not be permitted to attend the meeting in person.

Due to recent restrictions on gatherings implemented by the Government of Alberta in response to the COVID-19 pandemic, the move to a virtual-only meeting reflects Zoomaway’s commitment to protecting the health and safety of its shareholders, directors, employees, and other stakeholders.

Only shareholders as of the record date of October 27, 2020 or their duly appointed proxyholders may vote at the meeting. Shareholders that wish to attend and vote at the meeting should follow the instructions below.

To call into the meeting, please use the following instructions:
Dial-in number (US & Canada): (563) 999-1170
Access code: 363866#
International dial-in numbers: https://fccdl.in/i/sean249

For additional assistance connecting to the meeting text ‘Call Me’ to the Dial-In number above and you will be called into the conference. Message and data rates may apply.

Your vote is important. Shareholders that do not wish to attend and vote at the meeting are encouraged to vote their shares prior to the meeting and are reminded that their completed forms of proxy or voting instructions, as well as votes by internet and telephone, must be received by not less than 48 hours (excluding weekends and holidays) before the time set for the holding of the meeting or any adjournment of the meeting, or for non-registered (beneficial) shareholders, such earlier time as required by their intermediaries. Please read the Company’s proxy materials for further details on how to vote in advance of the meeting.

Copies of Zoomaway’s proxy materials that were delivered to shareholders are also available on SEDAR at www.sedar.com and have been posted on the Company’s website at www.zoomaway.com. The timing and process for voting by proxy remains as described in the proxy materials, and shareholders may still vote in advance of the meeting by submitting their proxy form or voting information form as described in the proxy materials. The proxy materials will not be updated to reflect the change to the meeting format.

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.) Zoomaway Travel Inc. is a technology company that is revolutionizing the Hospitality and Travel Industries. We have developed a variety of software solutions that enhance the planning and engagement of everyday tourists. Our flagship project, ZoomedOUT, is a complete modernization and re-imagination of mobile travel apps. In a full 3D environment, we are able to integrate planning, booking, social media, and camaraderie into a tangibly rewarding experience. We are combining Travel, Hospitality, Mobile Gaming and Augmented Reality to change the way users travel into 2020 and beyond. Additional information about ZoomAway Inc. can be found at www.zoomaway.com.

ZMA Travel Game Inc. (Canadian Co.) (formerly TravelGameBlockChain Technology Inc.) is a ZoomAway Travel Inc. subsidiary company dedicated to housing new projects in the digital games. The company’s first project is ZoomedOUT, being developed with the assistance of Zero8 Studios, Inc., 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.

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.