VANCOUVER, BC / ACCESSWIRE / February 16, 2021 / ZoomAway Travel Inc. (TSXV:ZMA, Financial)(OTCQB:ZMWYF) (the "Company" or "ZMA") www.zoomaway.com, is pleased to announce that it has closed its previously announced shares-for-debt transaction with AIP Convertible Private Debt Fund LP ("AIP") pursuant to which the Company settled $985,750 of maturing debt by the issuance to AIP of a total of 65,716,666 common shares of the Company at a deemed price of $0.015 per share and 65,716,666 common share purchase warrants (the "Debt Settlement"). Each warrant is exercisable for a period of 60 months from the date of issuance at an exercise price of $0.05 each. After giving effect to the Debt Settlement, the Company has a total of approximately 153,360,338 shares issued and outstanding, with AIP holding approximately 45.00% on an undiluted basis.
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