I just discovered something very interesting. Maybe it isn't news to others but it is to me. On June 16/20, ZCC announced by NR a PP for 3,333,334 common shares at US$1.50/share. This wasn't announced as Newsoara, rather an affiliated company of Newsoara's. It also said that the First Tranche of 1,333,334 had been issued. This was confirmed by a Ex. Distribution filed on June 16 stating transaction dates from June 9 - 15/20 for the total 1,333,334 shares. There was expected to be a Second Tranche for 2 million shares but in looking at the filings, it appears that there was a Second Tranche filed on July 15th for a July 14th transaction issuing 666,667 shares. On Nov. 10th there was a filing for a Sept. 8/20 transaction issuing 1,333,333 shares in a Third Tranche which would account for the total number of shares in the PP. 

Here it starts to get really interesting. Today there was an Early Warning Report filed regarding NGN BioMed Opportunity II,L.P.'s holdings in ZCC possibly going over 10%. Within the report, it referred to the reason for the report being a PP completed for 1,333,333 shares of ZCC @ US$1.50 on Sept. 8/20 as the Final Tranche of a PP for 3,333,334 shares announced on June 16/20. It appears that the affiliated company was actually NGN (parent NGN Capital) of whom Peter Johann used to be a Resverlogix director. Maybe what we thought of as Chinese ownership for the Newsaora holdings aren't. 

The other thing I noticed that is a little worrisome is that one of these tranches happened on Sept. 8th while the Sept. 17th NR stated, "Zenith also confirms there have been no undisclosed material business developments, since its most recent news release on August 26, 2020 regarding the status of its continuous disclosure filings, that have not been otherwise disclosed by Zenith by way of news release." I guess they considered it not material since they had announced that it would be coming by Aug. 31st on June 16. I feel it was material especially when it did not happen before Aug. 31st as it was announced. 

I don't know why it took 2 months to file this Third Tranche. The only thing I can think of is they didn't want to file it until they had filed the financial statements they were holding back. They did a similar thing at Resverlogix.