{"id":1015757,"date":"2026-10-30T08:41:16","date_gmt":"2026-10-30T12:41:16","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/zone-frontier-inc-provides-shareholder-update-on-minnesota-execution-and-debt-financing-progress-completed-strategic-transformation-insider-share-purchases-and-texas-project\/"},"modified":"2026-10-30T08:41:16","modified_gmt":"2026-10-30T12:41:16","slug":"zone-frontier-inc-provides-shareholder-update-on-minnesota-execution-and-debt-financing-progress-completed-strategic-transformation-insider-share-purchases-and-texas-project","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/zone-frontier-inc-provides-shareholder-update-on-minnesota-execution-and-debt-financing-progress-completed-strategic-transformation-insider-share-purchases-and-texas-project\/","title":{"rendered":"Zone Frontier Inc. Provides Shareholder Update on Minnesota Execution and Debt Financing Progress, Completed Strategic Transformation, Insider Share Purchases and Texas Project"},"content":{"rendered":"<div class=\"mw_release\">\n<ul type=\"disc\">\n<li style=\"text-align:left\">\n          <em>1-for-60 reverse split effective; split-adjusted trading expected to resume today on NYSE American<\/em>\n        <\/li>\n<li style=\"text-align:left\">\n          <em>Minnesota on track for initial revenue in Q1 2027 and full 40 megawatts IT load in Q2 2027<\/em>\n        <\/li>\n<li style=\"text-align:left\">\n          <em>Minnesota project-level debt financing progressing through confirmatory diligence<\/em>\n        <\/li>\n<li style=\"text-align:left\">\n          <em>Exit from legacy CleanCore cleaning business complete; Zone is now pure-play AI infrastructure<\/em>\n        <\/li>\n<li style=\"text-align:left\">\n          <em>Directors have invested $3,286,591 in Zone since August, including $786,591 by CEO<\/em>\n        <\/li>\n<li style=\"text-align:left\">\n          <em>Texas campus offers significant option value with no required capital exposure <\/em>\n        <\/li>\n<\/ul>\n<p>HOUSTON, Oct.  30, 2026  (GLOBE NEWSWIRE) &#8212; Zone Frontier Inc. (NYSE American: ZONE) (the &#8220;Company&#8221; or \u201cZone Frontier\u201d) 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\u2019s 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.<\/p>\n<p>\n        <strong>Reverse Stock Split and Resumption of Trading<\/strong><br \/>\n        <br \/>The Company\u2019s previously announced 1-for-60 reverse stock split became effective at 12:01 a.m. Eastern Time today, and the Company\u2019s common stock is expected to resume trading on a split-adjusted basis on the NYSE American at market open today under the existing symbol \u201cZONE\u201d and a new CUSIP number, 184492205. Every 60 shares of the Company\u2019s common stock were automatically combined into one share, reducing the number of shares outstanding from approximately 509,892,887 to approximately 8,498,215. No fractional shares were issued in connection with the reverse stock split; any fractional share that otherwise would have resulted from the reverse stock split was rounded up to the nearest whole share.<\/p>\n<p>\n        <strong>Minnesota Campus: Execution on Track<\/strong><br \/>\n        <br \/>The Company\u2019s Minnesota data center campus remains on track to commence revenue with Cerebras Systems Inc. (NASDAQ: CBRS) in the first quarter of 2027 and to deliver its full 40 megawatts of critical IT load by the second quarter of 2027. The campus is supported by a 10-year Colocation Services Agreement with Cerebras, with two 10-year potential extension options.<\/p>\n<p>Construction is progressing on schedule. Deposits have been placed on all major long-lead equipment with delivery timing on track. On site, vertical construction of the data hall and chiller building is advancing on completed footings and foundations, with structural steel rising and roof framing underway. Earthwork, underground utilities, and the power infrastructure to deliver the full 40 megawatts of critical load continue in parallel.<\/p>\n<p>The Company\u2019s project-level debt financing process for the Minnesota campus is progressing well and is in the confirmatory diligence phase. The financing is expected to be structured at the project special purpose vehicle level. Upon closing, the debt financing, together with the project\u2019s equity capital, is expected to fully fund the project through full-scale operations.<\/p>\n<p>\u201cMinnesota is our top priority and has the full attention of our team,\u201d said Tyler Hassen, Chief Executive Officer of Zone Frontier. \u201cConstruction is on track, we are advancing our debt financing toward closing, and we are focused every day on being a great partner to Cerebras.\u201d<\/p>\n<p>\n        <strong>Transformation Complete<\/strong><br \/>\n        <br \/>Earlier this month, the Company completed the sale of its legacy cleaning products business, including its wholly owned subsidiary CleanCore Global Limited, which, based on historical operating results, the Company estimates eliminated approximately $3 million in annual cash burn. With the sale, the Company has fully exited the CleanCore business and now operates as a pure-play AI infrastructure developer focused on power-enabled compute campuses, with lean operations and disciplined corporate spending. Additional information regarding the sale, including the consideration payable to the Company in the form of a promissory note and a potential earnout, is included in the Company\u2019s Current Report on Form 8-K filed with the Securities and Exchange Commission on October 14, 2026.<\/p>\n<p>\n        <strong>Insider Share Purchases<\/strong><br \/>\n        <br \/>Members of the Company\u2019s Board of Directors have invested a total of $3,286,591 in the Company since August, including $786,591 from the Chief Executive Officer Tyler Hassen. In the Company\u2019s approximately $100 million public offering completed in August 2026, Mr. Hassen purchased 2,000,000 shares of common stock and accompanying warrants, and another member of the Board of Directors purchased 10,000,000 shares of common stock and accompanying warrants. In addition, during October 2026, Mr. Hassen purchased 2,500,000 shares of common stock in open market transactions. In total, directors have purchased approximately 241,667 shares of common stock on a post-reverse-split basis (14,500,000 shares on a pre-split basis) since August, including approximately 75,000 post-split shares (4,500,000 pre-split shares) purchased by Mr. Hassen. These purchases have been reported on Forms 4 filed with the Securities and Exchange Commission.<\/p>\n<p>\u201cOur board and I have invested in Zone because we believe in what we are building,\u201d said Mr. Hassen. \u201cOur 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.\u201d<\/p>\n<p>\n        <strong>Texas Campus: Option Value with Significant Potential<\/strong><br \/>\n        <br \/>At its Potter County, Texas data center campus, being developed in partnership with HST Technologies, Inc. and its technology platform, the Company continues to make progress with potential tenants and key vendors while permitting and power interconnection studies are completed. The campus is expected to be initially built in phases of 50 to 100 megawatts\u00a0up to 200 megawatts, with\u00a0ample\u00a0potential to exceed\u00a0well over\u00a0500 megawatts over time.<\/p>\n<p>The Company\u2019s capital investment in Texas is entirely within its control. The Company has no obligation to build, and base rent under its long-term ground lease begins only when construction starts on each site area. Under the joint venture agreement with HST, the Company\u2019s initial $100 million capital contribution is scheduled for April 2, 2027. If it is not fully invested by then, HST has no recourse against the Company; the only potential consequence is minimal dilution of the Company\u2019s interest in the project.<\/p>\n<p>The Company intends to invest in Texas only as long-term tenant lease agreements are signed and power capacity and permits are secured, and views the campus as significant option value for shareholders. The approximately 4,077-acre site is located in the Southwest Power Pool (SPP) region and benefits from onsite water and nearby substations, fiber, natural gas pipelines and wind capacity.<\/p>\n<p>\u201cWe are very optimistic about our Texas campus,\u201d said Mr. Hassen. \u201cWe 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.\u201d<\/p>\n<p>\u201cOur partnership with Zone brings together a premier site de-risked by our technology stack,\u00a0and a team that is focused on execution,\u201d said Rudy Roy, Chief Executive Officer of HST Technologies, Inc. \u201cWe 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.\u201d<\/p>\n<p>\u201cMinnesota is just the beginning,\u201d added Mr. Hassen. \u201cWith 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.\u201d<\/p>\n<p>For more information, visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=6OAG8Xvlo7WdYylW-ILq7ZwnAbJtgvLWNzHTGSH3yd2F1fUyd1rvyffcnPBjyUkyIBIf-cs5ENvAQ5px_66bD2VuWBkmwqFlct-SnwXh6XA=\" rel=\"nofollow\" target=\"_blank\">www.zonefrontier.com<\/a>.<\/p>\n<p>\n        <strong>About Zone Frontier Inc.<\/strong><br \/>\n        <br \/>Zone Frontier Inc. (NYSE AMERICAN: ZONE) is helping to build the critical infrastructure that powers the AI economy. Through a growing pipeline of projects, the Company aims to help meet the increasing demand for compute capacity, power, and digital infrastructure required by the world&#8217;s leading AI companies.<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p>This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements regarding the timing of capacity delivery at the Company&#8217;s Minnesota data center campus, the timing of construction and equipment delivery at the Minnesota campus, the expected commencement of revenue and the expected contract value under the Company&#8217;s colocation agreement with Cerebras, the expected closing, terms and sufficiency of project-level debt financing for the Minnesota campus, the resumption of trading of the Company&#8217;s common stock on a split-adjusted basis, the development of the Company&#8217;s Texas data center campus and the amount, timing and financing of any capital deployment there, including the timing and terms of any project-level equity and debt financing for the Texas campus, the estimated cost savings from the sale of the Company&#8217;s legacy business, the Company&#8217;s business strategy and pipeline of projects, and the Company&#8217;s operation as an AI infrastructure business. Forward-looking statements are generally identified by words such as &#8220;anticipates,&#8221; &#8220;believes,&#8221; &#8220;expects,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;could,&#8221; &#8220;should,&#8221; &#8220;estimates,&#8221; &#8220;projects,&#8221; &#8220;potential,&#8221; &#8220;focused on,&#8221; &#8220;aims,&#8221; &#8220;expand,&#8221; &#8220;expected,&#8221; &#8220;look forward,&#8221; and similar expressions. These forward-looking statements are based on management&#8217;s current expectations and assumptions as of the date of this press release and are subject to significant risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include, but are not limited to: the risk that project-level debt financing for the Minnesota campus does not close on the anticipated terms or timeline or at all; construction, equipment, permitting, power or interconnection delays that could affect delivery timelines under the Company&#8217;s colocation agreement; the Company&#8217;s dependence on a single customer for its Minnesota campus and the risk that revenue under the colocation agreement commences later than expected or is less than expected; the collection of amounts payable to the Company under the promissory note and potential earnout from the sale of its legacy business; the risk that the cost savings from the sale of the legacy business are less than estimated; the Company&#8217;s ability to secure tenants, power, interconnection, permits and project-level financing for its Texas data center campus; the risk that, if the Company does not fund its capital contributions to the Texas joint venture when scheduled, its percentage interest in the joint venture could be diluted; the effects of the reverse stock split, including on the market price and liquidity of the Company&#8217;s common stock and on the exercise price of the Company&#8217;s outstanding warrants; the Company&#8217;s ability to maintain the listing of its common stock on the NYSE American; the highly speculative and uncertain nature of the Company&#8217;s AI critical infrastructure business; the Company&#8217;s ability to operate successfully as a pure-play AI infrastructure company following the sale of its legacy business; the Company&#8217;s limited operating history and experience in the data center and AI infrastructure industries; the status of the Company&#8217;s operations, results of operations, growth strategy and liquidity; and general economic, financial, capital market and industry conditions.<\/p>\n<p>For a more complete discussion of risks and uncertainties, please refer to the Company&#8217;s filings with the SEC, including the &#8220;Risk Factors&#8221; section of the Company&#8217;s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. All forward-looking statements are qualified in their entirety by this cautionary statement.<\/p>\n<p>\n        <strong>MEDIA CONTACT<\/strong><br \/>\n        <br \/>Angela Gorman | AMWPR <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=b-hqmRRyZswn47O82b5FSrdlxNqwhbXAcwKGuy8AjuZQEuDjldexOw0_oTYcBOL5fJh8_hRRLcGDm3icOVbcA8o1QhUfo-tw6Fo7wglHrnk=\" rel=\"nofollow\" target=\"_blank\">angela@amwpr.com<\/a> | 917.348.0083<\/p>\n<p>SOURCE Zone Frontier Inc. (NYSE AMERICAN: ZONE)<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTg1Njc5MSM3OTI2MDc5IzIzMjU2NzY=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/ZGJlYWZlZjgtOTljYS00NTg4LTkxNDAtZGQ3MjU5NjRmYjE2LTEzMzcyMjYtMjAyNi0xMC0zMC1lbg==\/tiny\/Zone-Frontier.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>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) &#8212; Zone Frontier Inc. (NYSE American: ZONE) (the &#8220;Company&#8221; or \u201cZone Frontier\u201d) 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/zone-frontier-inc-provides-shareholder-update-on-minnesota-execution-and-debt-financing-progress-completed-strategic-transformation-insider-share-purchases-and-texas-project\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Zone Frontier Inc. Provides Shareholder Update on Minnesota Execution and Debt Financing Progress, Completed Strategic Transformation, Insider Share Purchases and Texas Project&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1015757","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Zone Frontier Inc. Provides Shareholder Update on Minnesota Execution and Debt Financing Progress, Completed Strategic Transformation, Insider Share Purchases and Texas Project - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/zone-frontier-inc-provides-shareholder-update-on-minnesota-execution-and-debt-financing-progress-completed-strategic-transformation-insider-share-purchases-and-texas-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zone Frontier Inc. 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(NYSE American: ZONE) (the &#8220;Company&#8221; or \u201cZone Frontier\u201d) 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 &hellip; Continue reading &quot;Zone Frontier Inc. 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Provides Shareholder Update on Minnesota Execution and Debt Financing Progress, Completed Strategic Transformation, Insider Share Purchases and Texas Project - Market Newsdesk","og_description":"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) &#8212; Zone Frontier Inc. (NYSE American: ZONE) (the &#8220;Company&#8221; or \u201cZone Frontier\u201d) 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 &hellip; Continue reading \"Zone Frontier Inc. 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