19:40:47 EDT Sat 18 May 2024
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Zoomaway cancels acquisition of Ont. specialty retailer

2023-10-04 17:46 ET - News Release

Mr. Sean Schaeffer reports

ZOOMAWAY SEEKS TO HAVE SHARES REINSTATED FOR TRADING

Zoomaway Technologies Inc. announced via press release dated April 12, 2022, that it intended to acquire an Ontario-based specialty retailer. For various reasons, the company has chosen not to pursue this transaction and is applying to the TSX Venture Exchange to reinstate trading of its shares.

Throughout the period since the announcement of the transaction, Zoomaway reports that it has continued to operate normally during the halt, including keeping up to date with all of its financial reporting requirements. The company has continued to grow its travel business and expects that trend to continue as it pursues its publicly stated mission to complete a transaction and spinoff of its current business to its wholly owned subsidiary Zoom Tech Inc.

About Zoomaway Technologies Inc.

Zoomaway Technologies is a technology company principally involved in the hospitality and travel industries. The company developed a variety of software solutions that enhance the planning and engagement of everyday tourists. The company's flagship project, ZoomedOUT, is a complete modernization and reimagination of mobile travel apps. In a full 3-D environment, the company is able to integrate planning, booking, social media and camaraderie into a tangibly rewarding experience. The company has combined travel, hospitality, mobile gaming and augmented reality to change the way users travel.

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