Zaio Corporation
TSX VENTURE : ZAO

Zaio Corporation

August 22, 2013 19:00 ET

Zaio Corporation Announces Annual General Meeting Results

CALGARY, ALBERTA--(Marketwired - Aug. 22, 2013) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Zaio Corporation (TSX VENTURE:ZAO) ("Zaio" or the "Company") is pleased to announce the results of its annual general meeting (the "Meeting") held on August 20, 2013. At the Meeting, the shareholders of the Company approved resolutions including the re-election of Bradley Stinson, Gregory Ford, Joel Strickland and David King as directors of the Company, the re-appointment of Kenway Mack Slusarchuk Stewart LLP as the Company's auditor, and the approval of the Company's Stock Option Plan and Restricted Share Unit Plan. The Company also announced the issuance of 2.85 million RSU's and a stock option grant to employees, key consultants, and members of the Board of Directors totaling 3.75 million options priced at $0.14, the closing market price of Zaio stock as of August 22, 2013.

John Gilberry did not stand for re-election to the board of directors due to his decision of retirement. "John Gilberry was instrumental in building the management team, go forward plan, and financing of Zaio over the past 3 years." noted David King, Zaio President and CEO. "We wish John well in his many business pursuits, and are pleased that he will be available to Zaio's executive in a consulting role going forward." The Company announced that Joel Strickland will replace Mr. Gillberry as Chairman of the Board effective today.

In addition, the Company is pleased to announce the appointment of Beverly Howes as Executive Vice President. Ms. Howes brings Zaio a wealth of experience in commercial and corporate development, along with international experience. Over the past 25 years, her work has included such roles as co-chair, Canadian crude oil Industry Equalization Steering Committee; director, Calgary Chamber of Commerce International Business Relations Committee; advisor to the Alberta Government on market design and quality standards; and, senior positions with Enbridge Petroleum Exchange, Suncor, and Murphy Oil.

For further information visit www.zaio.com.

About Zaio Corporation

Zaio provides customers in the property valuation, underwriting and lending industries with real-time access to certified appraisal reports from the Company's patented database of proactively maintained residential property valuations prepared by licensed appraisers across the United States. The Company's products are available in the United States through its Licensee, Zone Data Systems LLC.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

This press release contains forward looking statements. The Company believes that the expectations reflected in this news release are reasonable but actual results may be affected by a variety of variables and may be materially different from the results or events predicted in the forward-looking statements. Readers are therefore cautioned not to place undue reliance on these forward-looking statements. In evaluating forward-looking statements readers should consider the risk factors which could cause actual results or events to differ materially from those indicated by such forward-looking statements. These forward-looking statements are made as of the date hereof and unless otherwise required by applicable securities laws, the Company does not intend nor does it undertake any obligation to update or revise any forward-looking statements

Neither TSXV nor their Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • David King
    President & CEO
    Zaio Corporation
    (403) 984-ZAIO