Zaio Corporation

Zaio Corporation

December 12, 2011 07:00 ET

Zaio Signs Agreement With Major National Lender Platform

National Program Provides Major Banks With Products to Replace "Broker Price Opinion" Valuations

CALGARY, ALBERTA--(Marketwire - Dec. 12, 2011) - Zaio Corporation (CNSX:ZAO) (the "Company"), today announced that it's partner in the United States, Zone Data Systems LLC ("ZDS") has entered into a multi-year Reseller Agreement (the Agreement) with one of the top three financial services platforms in the United States to provide volume access to Zaio's patented property valuation products for national mortgage origination, default, and loan servicing banking clients.

"Signing this Agreement with a major national company serving the US mortgage lending industry and major banks represents a critical milestone for Zaio and Zone Data Systems. It provides customer validation of the value proposition that is at the core of our business model," said David King, Zaio's President and CEO. "While we expect the initial order flow from this Agreement will be moderated in the first few months as order-management systems are aligned and our database continues its scheduled build out, we believe the potential run-rate from Zone Data Systems and our signed reseller community is in the order of tens of thousands of appraisal products per month."

The Agreement was structured to meet the needs of national banks that currently use "broker price opinions" as the initial valuation test in underwriting residential mortgage loans and loan servicing and default proceedings. Under this Agreement, the Reseller will be able to offer all of their banking clients direct access to the full-range of Zaio appraisal products supported by the Company's patented technology and process. The Zaio database is supported by almost 1300 managed licensed appraisers across the United States under its license agreement with ZDS.

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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 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 including statements as to the proposed share consolidation and the timing thereof. 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 including that the timing of the proposed share consolidation is uncertain. 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
    (403) 984-ZAIO

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