TSX Venture Exchange Symbol: ZAO
CALGARY, Aug. 17 /CNW/ - Zaio Corporation ("Zaio" or the "Corporation"), (TSX-V: ZAO) is pleased to announce that it closed the transaction announced on March 5, 2010 to convert a debt owed to a non-arm's length third party in the amount of US$135,000.00 into 893,716 common shares of the Company (the "Debt Shares") on August 16, 2010. The Debt Shares were issued at a price per Debt Share of CDN$0.12. The debt being converted had been previously reported on the financial statements of Zaio.
The Debt Shares are subject to a four month hold period which will expire on December 17, 2010.
Zaio develops and maintains a site-verified database of photos, valuations and property information on virtually every residential property in entire cities, using a proprietary "GeoScore(TM)" property rating system. Zaio licenses its technology to networks of premiere, local appraiser experts who can then appraise and monitor values across entire cities, one home at a time from the street. Zone Data Systems LLC is the Zaio affiliate for the United States. Zaio is a public company that trades under the symbol "ZAO" on the TSX Venture Exchange in Canada. Zaio shares are also available in the US under the trading symbol "ZAOFF". For more company information, visit www.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.
SOURCE Zaio Corporation
For further information: For further information: Zaio Corporation: Bradley Stinson, CEO, (877) 318 0537; Rodney Mitton, CFO, (877) 318 0537