July 12 (Reuters) - Revelstoke Equity Inc REQh.V :
* . ANNOUNCES UPDATE TO PROPOSED BUSINESS COMBINATION WITH ZONETAIL INC.
* REVELSTOKE EQUITY- REVELSTOKE AND ZONETAIL INC ARE EXPECTED TO COMBINE THEIR BUSINESS OPERATIONS
* AS A CONDITION TO TRANSACTION, ZONETAIL IS REQUIRED TO COMPLETE A PRIVATE PLACEMENT FINANCING
* COMBINED ENTITY WILL CONTINUE TO CARRY ON BUSINESS OF ZONETAIL
* PRIVATE PLACEMENT IS AN OFFERING OF SUBSCRIPTION RECEIPTS OF ZONETAIL AT A PRICE OF $0.18 PER SUBSCRIPTION RECEIPT