ZenaTech corrects early warning report filing error

ZenaTech Inc. (NASDAQ: ZENA) filed a corrected early warning report after discovering it miscalculated its ownership percentage in Boardwalktech Software Corp., according to a company statement.

The technology company initially reported that it and CEO Dr. Shaun Passley collectively owned approximately 10.3% of Boardwalktech's outstanding shares. ZenaTech acquired 6,744,000 shares at prices between $0.035 and $0.05 per share on the TSX Venture Exchange, while Passley purchased 500,000 shares at the same price range.

The calculation error occurred because ZenaTech did not account for a recent private placement completed by Boardwalktech when determining the total number of outstanding shares. After the correction, ZenaTech and Passley's combined holdings represent less than 10% of Boardwalktech's issued and outstanding shares.

Under securities regulations, companies are required to file early warning reports when their ownership exceeds 10% of another company's shares. Since the corrected calculation shows ownership below this threshold, ZenaTech determined it was not obligated to file the original early warning report.

ZenaTech stated it will file an amended early warning report under applicable securities laws, which will be available on SEDAR+ under Boardwalktech's profile. The company specializes in AI drone technology, drone-as-a-service solutions, enterprise software, and quantum computing applications.

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