CALGARY, ALBERTA--(Marketwired - April 2, 2013) - Zaio Corporation (TSX VENTURE:ZAO) (the "Company"), today reported that final voting has been ratified in Zaio's previously announced debenture extension proposal.
With a total of over $3 million voted in favour of the debenture amendments proposed by the Company in March, the proposal has been overwhelmingly accepted. 44 of 47 Debentureholders that voted were in favour of the amendments.
"I would like to sincerely thank Zaio's debentureholders for voting so strongly in favour of the debenture amendments," commented David King, ZAIO President and CEO. "Zaio now has multiple products selling on a daily basis, significant territory expansions underway, and the alignment of the company's senior creditors is now complete. Zaio is in a position to take advantage of the massive opportunity our patented technology affords us in the United States market," added Mr. King.
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.