Zaio Announces Proposed Extension of Warrants
/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./
CALGARY, Feb. 6, 2014 /CNW/ - Zaio Corporation (TSXV: ZAO) (the "Company") is pleased to announce that it is making an application to the TSX Venture Exchange (the "Exchange") for the extension of the expiry dates of outstanding share purchase warrants ("Warrants") issued as part of the Company's private placement of Units which closed in two tranches on February 21, 2012 and March 19, 2012. The Warrants currently expire on February 21, 2014 and March 19, 2014, respectively, and the Company intends to extend the expiry date to June 30, 2015. All other terms of the Warrants shall remain unchanged. Following the share consolidation completed by the Company on June 22, 2012 on the basis of one post-consolidated common share for every four pre-consolidation common shares outstanding, the Warrants are exercisable at four Warrants for one common share at an exercise price of $0.52 per share. Pursuant to the policies of the Exchange, Warrants issued to brokers, agents or finders may not be amended. Insiders of the Corporation hold 1.49% of the Warrants. The extension of the Warrants remains subject to Exchange approval.
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. Visit the company online at zaio.com.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release may contain forward-looking statements. Actual results could differ materially from those described in this news release as a result of various factors, including, but not limited to the timing of and the ability to obtain regulatory approvals. The Company cautions that these and similar statements involve risk and uncertainties and are qualified by important factors, including the risk that the Company will not obtain required approval, that could cause actual results to differ materially from those in the forward looking statements. Forward-looking statements are made in the context of information available as of the date stated. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.
SOURCE Zaio CorporationFor further information:
visit www.zaio.com or contact:
President & CEO Zaio Corporation
Virtus Advisory Group Inc.