CALGARY, March 28, 2017 /CNW/ - Clarocity Corporation (TSXV:CLY) (the "Company" or "Clarocity") is pleased to announce that the unaudited revenue figure for February 2017 totalled $900k, representing an increase of 91% as compared to February 2016 and brings the Company's total unaudited revenue figure for the 2017 fiscal year to $2.0 million.
"We have built a solid revenue base that has been consistent since November 2016. The established client base has now achieved $2.0 million in revenue in fiscal year 2017," said Shane Copeland, CEO of Clarocity Corporation. "Note that this base of revenue does not include the contracts announced during the past several months including Guild Mortgages and the government institution contracts. It is anticipated that incremental revenue from these contracts will be realized starting in March and April. As new accounts continue to onboard, we are expecting a significant ramp up in revenue as the year progresses. We feel confident that we are very much on pace to meet our revenue objectives in 2017 and are continuing to execute on our previously outlined market strategy."
About Clarocity Corporation
Clarocity Corporation (formerly known as Zaio Corporation) provides real estate valuation technologies to deal with today's dynamic housing market through its proprietary valuation solutions. Every day GSE, banking, and investor clients rely on our proprietary solutions to fund loans and value assets. As a fully integrated technology and valuation services company, Clarocity provides unparalleled insight into their real estate business assets. For more information, visit www.clarocity.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 does not constitute an offer to sell or a solicitation of an offer to buy and 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.
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.
SOURCE Clarocity Corporation
For further information: visit www.clarocity.com or contact: Shane Copeland, CEO, Clarocity Corporation, 760-208-6460, [email protected]; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, [email protected]