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ZoomAway Signs Letter of Intent to Acquire U.S.-Based Tour Company

VANCOUVER, BC / ACCESSWIRE / April 7, 2020 / ZoomAway Travel Inc. (TSX.V:ZMA);(OTCQB:ZMWYF) (the "Company" or "ZMA") www.zoomaway.com, a leader in the hospitality technology sector, is pleased to announce that it has agreed to non-binding LOI to purchase a successful Southern U.S. based Tour Operator. This well-established, profitable business has been in operations for almost 20 years and has a worldwide customer base. Both parties are anxious to begin the process of gaining exchange approval and closing this transaction as quickly as possible. Due diligence, including the negotiation of a definitive agreement, are now proceeding.

A very complimentary business to the legacy operation of ZoomAway, the subject company has reported Multi-Million-dollar top line sales for 2019 and a very impressive EBITDA. "Our goal," said CEO Sean Schaeffer, "is to be prepared when this COVID 19 crisis is behind us. My belief is that people are going to need to get out of the house and we want to position ourselves to satisfy their need." Schaeffer continued, "I am especially excited about this potential acquisition. I believe it will greatly enhance our bottom line and continue to provide shareholder value."

This is the Company's first potential use of the previously announced $5 million line of acquisition credit. "We are of the opinion that now is the time to aggressively look to acquire other businesses that match our vision," Sean said. "We are in preliminary discussions with several companies that match our growing portfolio. I want to see ZoomAway emerge from this crisis stronger and prepared for growth."

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.

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.

SOURCE: ZoomAway Travel Inc.



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https://www.accesswire.com/584128/ZoomAway-Signs-Letter-of-Intent-to-Acquire-US-Based-Tour-Company

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