Zaio Corporation

Zaio Corporation

December 21, 2011 07:00 ET

Zaio Corporation Approves Debenture Interest Payment

Election in favour of shares versus cash increases to 67 percent

CALGARY, ALBERTA--(Marketwire - Dec. 21, 2011) - Zaio Corporation (CNSX:ZAO) (the "Company"), Zaio Corporation ("Zaio") announced today that it has received elections to take shares as payment in the total of $78,036 for the December 31, 2011 debenture interest payment. The total number of shares issued in lieu of cash will be calculated based on the 20 day weighted average share price of Zaio at December 31, 2011. A total of $38,816 of debenture interest payments will be made in cash pursuant to the original terms of the debenture offering closed on June 15, 2011. Holders of approximately 67 percent of the outstanding debentures have elected to take shares as their form of interest payment this quarter.

"We are very pleased that our debenture holders have signalled their increased confidence in the Company by electing at a rate of two to one, to receive their interest payments in stock versus cash. This compares very favourably to the previous quarter when the holders of only 38 percent of the debentures elected to take stock versus cash," noted David King, President and CEO of Zaio. "Zaio, together with our partner Zone Data Systems in the United States, has had a very productive quarter. Zaio's patented database now has marketable valuation data on more than nine million homes, and we have secured significant agreements with national reseller clients which will make significant contributions to revenue in 2012."

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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 proprietary 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.

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 CNSX nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Zaio Corporation
    David King
    President & CEO
    (877) 318-0537

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