/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
TSX Venture Exchange Symbol: ZAO
CALGARY, June 5 /CNW/ - Zaio Corporation ("Zaio" or the "Corporation") is
pleased to announce a non-brokered private placement of up to 2,750,000 units
(the "Units") at a price of $0.32 per Unit for gross proceeds of up to
$880,000 (the "Offering"). Each Unit will consist of four (4) common shares in
the capital of the Corporation (the "Common Shares") and one common share
purchase warrant (a "Warrant"). Each Warrant will entitle the holder to
purchase one Common Share of the Corporation at an exercise price of $0.20 for
a period of twenty-four (24) months from the Closing Date (the "Exercise
Period"). At the option of the Corporation, the Exercise Period for the
Warrants may be shortened from twenty-four (24) months to thirty (30) days
should the Common Shares trade at a price equal to or greater than $0.50 for
five (5) consecutive trading days.
Finders' fees are to be paid to arm's length third parties of Zaio
consisting of cash in the aggregate amount of up to 6% of the gross proceeds
raised by the finders and finders' compensation warrants (the "Finders'
Warrants") in the amount of up to 8% of the number of Common Shares subscribed
for through the Finders. The Finders' Warrants shall have the same terms and
conditions as the Warrants.
The private placement is expected to close on or about June 18, 2009 (the
The proceeds of the private placement will be used for corporate overhead
in 2009 and settlement of current debts. The private placement is subject to
receipt of all necessary regulatory approvals.
Zaio is a company listed and trading on the TSX Venture Exchange, symbol:
Zaio develops and maintains a secure database of site-verified photos,
property information and appraisals of virtually every property in entire
cities. Zaio's network of premiere, local appraiser experts photograph,
inspect and appraise entire cities, one building at a time from the street
using a proprietary "GeoScore(TM)" rating system. Zaio is a public corporation
that trades under the symbol "ZAO" on the TSX-V Exchange in Canada.
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 offered
securities mentioned in this news release 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 news release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities in any jurisdiction.
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.
For further information:
For further information: Bradley Stinson, CEO, 1-877-318-0537; Rodney D.
Mitton, Interim CFO, 1-877-318-0537