Zaio Corporation

Zaio Corporation

January 19, 2012 12:26 ET

Zaio Corporation Announces Private Placement

CALGARY, ALBERTA--(Marketwire - Jan. 19, 2012) -


Zaio Corporation (CNSX:ZAO) ("Zaio" or the "Company") announced today that it proposes to complete a private placement offering of units (the "Units") at a price of $0.10 per Unit (the "Issue Price") to raise gross proceeds of up to $2.0 million (the "Offering "). Each Unit will be comprised of one common share (the "Common Share") in the capital of the Company and one common share purchase warrant (the "Warrant"). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.13 per share for a period of 24 months from the date of issuance of the Warrants.

MGI Securities Inc. (the "Agent") will act as lead agent for the Offering. Subject to regulatory approval, the Company has also granted the Agent an option (the "Agent's Option") to increase the size of the Offering by up to an additional 15% of Units on the same terms of the Offering. The Agent's Option is exercisable in whole or in part at any time up to two (2) business days prior to the closing of the Offering.

The Offering will be made on a best efforts basis and the Company intends to use the net proceeds from the Offering for general working capital purposes. The Offering is expected to close on or about February 14, 2012.

Additionally, the Company announced that it has granted 1,121,200 share options to certain officers and directors of the company price at $0.13 cents and a two year vesting period per the company's stock option plan.

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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 nor shall there be any sale of the securities in any state in the United States or any other jurisdiction outside of Canada in which such offer, solicitation or sale would be unlawful. 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 and applicable securities laws.

This press release may contain forward-looking statements which may include plans, expectations, opinions, forecasts, projections or other statements that are not statements of fact, in particular comments relating to the size, pricing, other terms and closing of the Offering and use of proceeds. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct.

The Company believes that the expectations reflected in this news release are reasonable including closing of the Offering on the terms contemplated, but actual results may be affected by a variety of variables and risks such as, the inability to obtain subscriptions on the terms proposed, loss of market, changes in the equity markets in general, general economic conditions, timing of applications and approvals as well as risks and variables associated in general with the Company's industry. The Company has, in part, relied on information provided by third parties involved in the capital markets in order to develop its forward-looking statements and there is no assurance that the assumptions or information relied upon by the Company is correct, or will not be affected by events or circumstances beyond the control of the Company. 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. The Company's forward-looking statements are made as of the date hereof and are expressly qualified in their entirety be this cautionary statement. Unless otherwise required by applicable securities laws, the Company does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information events, results or circumstances or otherwise.

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

Contact Information

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

    Genoa Management Ltd.
    John Sadler
    (416) 594-9292