CALGARY, Aug. 1, 2017 /CNW/ - Clarocity Corporation (TSXV:CLY; OTCQB:CLRYF) (the "Company" or "Clarocity") is pleased to announce that it has been selected by a leading U.S. asset investment firm to provide appraisal services and technology to be used in their consulting and due diligence services division. Over the next several quarters, the firm will be leveraging Clarocity's proprietary MVPro Appraisal with RIVA (Rental Income Valuation Analysis) reports for valuation of securitized rental asset pools. The RIVA report as appended to the MVPro appraisal represents a completely new approach to valuation of the rapidly growing residential rental asset channel.
"We are very pleased to incorporate our proprietary MVPro appraisal services and technologies into this company's appraisal process as we continue to see the industry shift towards heavier reliance on next generation appraisal products," offered Shane Copeland, CEO of Clarocity. "It is becoming more and more clear that next generation appraisal products such as MVPro are an integral part of our industry's future and we are proud to be leading the way in this shift."
In addition, the Company today announced it will discontinue releasing monthly revenue figures, effective immediately.
"With 7 months of revenue figures released thus far, we have provided the market with enough confidence and clarity as to the direction our organization is heading to discontinue this unconventional practice," said Shane Copeland, CEO of Clarocity. "Added regulatory requirements to include associated expenditure information make it impractical for us to provide this information on a monthly basis."
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]