Zone Frontier Inc. Provides Shareholder Update on Minnesota Execution and Debt Financing Progress, Completed Strategic Transformation, Insider Share Purchases and Texas Project
Key Highlights
- ➤1-for-60 reverse split reduced shares outstanding from approximately 509,892,887 to 8,498,215
- ➤Minnesota campus targets Cerebras revenue in Q1 2027 and full 40 MW IT load in Q2 2027
- ➤Minnesota project-level debt financing reaches confirmatory diligence; expected to fully fund operations with equity
- ➤CleanCore sale estimated to eliminate approximately $3 million in annual cash burn
- ➤Directors invested $3,286,591 since August, including $786,591 by CEO
Expert Statements
Tyler Hassen, Chief Executive Officer of Zone Frontier
“Minnesota is our top priority and has the full attention of our team. Construction is on track, we are advancing our debt financing toward closing, and we are focused every day on being a great partner to Cerebras.”
Tyler Hassen, Chief Executive Officer of Zone Frontier
“Our board and I have invested in Zone because we believe in what we are building. Our interests are fully aligned with our shareholders, and we are confident in our strategy and in the long-term value we are working to create.”
Tyler Hassen, Chief Executive Officer of Zone Frontier
“We are very optimistic about our Texas campus. We continue to expect to be in a position to raise project-level equity and debt capital on attractive terms by the end of the first quarter of 2027, and we have a great relationship with our partners at HST. We will act in the best interest of our shareholders, in close coordination with HST, as we move this project forward.”
Rudy Roy, Chief Executive Officer of HST Technologies, Inc.
“Our partnership with Zone brings together a premier site de-risked by our technology stack, and a team that is focused on execution. We are making real progress with tenants and vendors, and we are excited about how our software platform will help scale critical AI Infrastructure in the Texas Panhandle.”
Tyler Hassen, Chief Executive Officer of Zone Frontier
“Minnesota is just the beginning. With our transformation complete, our flagship campus on track and a Texas campus that gives us meaningful optionality, we believe Zone is well positioned to build a leading AI infrastructure business.”
* 1-for-60 reverse split effective; split-adjusted trading expected to resume today on NYSE American * Minnesota on track for initial revenue in Q1 2027 and full 40 megawatts IT load in Q2 2027 * Minnesota project-level debt financing progressing through confirmatory diligence * Exit from legacy CleanCore cleaning business complete; Zone is now pure-play AI infrastructure * Directors have invested $3,286,591 in Zone since August, including $786,591 by CEO * Texas campus offers significant option value with no required capital exposure HOUSTON, Oct. 30, 2026 (GLOBE NEWSWIRE) -- Zone Frontier Inc. (NYSE American: ZONE) (the "Company" or “Zone Frontier”) today provided a shareholder update on its Minnesota data center campus, its project-level debt financing process, the completion of its exit from the legacy CleanCore cleaning products business, insider share purchases and its Potter County, Texas data center campus. The update coincides with the effectiveness of the Company’s 1-for-60 reverse stock split and the resumption of trading of its common stock on a split-adjusted basis on the NYSE American today.
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