VANCOUVER, BC - TheNewswire - July 9, 2019 - ZoomAway Travel Inc. (TSXV:ZMA) (OTC:ZMWYF) (the "Company") www.zoomaway.com, a leader in the hospitality technology sector, is pleased to announce the results of its Annual and Special Meetings of Shareholders held on June 28, 2019.
As per the Company's prior News Release of May 31, 2019, with Court approval, the Company held both its 2018 AGM and its 2019 Shareholders Meeting (Annual and Special Meeting) concurrently.
The Board of Directors consisting of Sean Schaeffer (President & CEO), Steve Rosenthal (CFO), Christa Jones and Mark Riden remains in place (they have been in place since April 2018). Davidson & Company LLP remains as the Company's auditors. The audit committee of the Board continues as Mr. Rosenthal, Ms. Jones and Mr. Riden.
More than 10% of the Company's outstanding shares were represented at the Meeting in person or by proxy, and all items placed before the shareholders were approved, including the motion to authorize the sale of additional equity (or debt convertible into equity) to AIP Asset Management Inc. ("AIP") or its affiliates, even if such sale may result in the creation of a new "control person" of the Company. AIP currently holds secured convertible debt that, if converted, would result in the holders of such debt owning up to 18.3% of the Company's post-conversion common share equity.
Sean Schaeffer, President & CEO, stated "It was good to have an opportunity to discuss the Company's current position with our shareholders and receive their overwhelming support for management's plans moving 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.ca.
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@example.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 its 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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