/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, Dec. 27, 2013 /CNW/ - Zaio Corporation (TSXV: ZAO) (the
"Company") announced today that debentureholders have agreed to take
shares as payment for a total of $328,541.72 of the December 31, 2013
debenture interest payment pursuant to the terms of the debentures
issued under the trust indenture dated May 9, 2013 (the "Debentures").
The total number of shares issued in lieu of cash will be calculated
based on the greater of the 20 day weighted average trading price of
Zaio's shares prior to December 31, 2013 and the closing market price
of Zaio's shares on last trading day prior to the interest payment
A total of $7,350 of debenture interest payments will be made in cash
pursuant to the terms of the Debentures.
Holders of approximately 98 percent of the outstanding Debentures have
agreed to take shares as their form of interest payment for this
semi-annual interest payment date.
"We are delighted by the growing percentage of debentureholders choosing
to take shares of Zaio as their interest payments," said David King,
President and CEO of Zaio Corporation. "The substantial support we are
receiving from our debentureholders is a clear indication of the level
of confidence they have in the future of Zaio. We have made significant
progress in the past few months with our company. As we finalize the
acquisition of Valuation Vision, and with recent acquisition of the
National License Agreement from Zone Data Systems, we are well
positioned to create significant shareholder value in the new year."
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.
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 news release contains forward-looking statements which may include
financial and business prospects, as well as statements regarding the
Company's future plans, objectives or economic performance and
financial outlooks. Such statements are subject to risk factors
associated with the real estate industry, the overall economy in both
Canada and the United States. 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.
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
SOURCE: Zaio Corporation
For further information:
For further information visit www.zaio.com or contact:
President & CEO
Virtus Advisory Group Inc.