Zaio Corporation
CNSX : ZAO

Zaio Corporation

April 12, 2012 08:09 ET

Zaio Doubles Database in Q1 to More Than 20 Million Properties

Two of the Top Five US Banks Now Have Direct Access to Zaio Products

CALGARY, ALBERTA--(Marketwire - April 12, 2012) -

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 (CNSX:ZAO) ("Zaio" or the "Company") announced today in its quarterly update to shareholders that the Company had added Marketable Property Appraisal Data on more than 10 million residential properties to its database in the first quarter of 2012. As a result, Zaio now maintains Marketable Property Appraisal Data on more than 20 million homes in the United States representing approximately one quarter the addressable US market.

"This impressive rate of growth in our database is a testament to the power of Zaio's patented technology and the collaboration with our partner in the United States, Zone Data Systems. The Company's business model builds ongoing alignment with local expert appraisers, and allows us to deliver products that are truly unique in the marketplace" said David King, Zaio's President and Chief Executive Officer. "By the end of the current fiscal year, we expect to be well on our way to reaching our target of 80 million homes representing every urban centre in the United States."

Zaio defines Marketable Property Appraisal Data as a digital record of current valuation information on an individual residential property that has been compiled in Zaio's database and is deemed, in conjunction with a local certified appraiser, compliant with the requirements to deliver an appraisal report from the Zaio system within customer defined timelines.

The Company also reported that the national scope reseller that was signed in December 2011 is aggressively building its base of subscribing customers that now includes projects that give two of the top five banks in the US direct access to custom implementations of Zaio's property appraisal products.

"As a result of the continued rapid expansion of the database and our success at gaining early adoption from some of the Nation's largest financial institutions and many smaller customers as well, we now have visibility to self-sustaining operations in terms of the revenue generated from this database on an annualized basis by the end of 2012," added Mr. King.

The Company also confirmed that its 2011 audited financial statements are available on SEDAR and on its website www.zaio.com.

About Zaio

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 increasing the size of the private placement, excess demand for the Units 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, but actual results may be affected by a variety of variables and risks such as, 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
    www.zaio.com

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