/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, Jan. 16, 2015 /CNW/ - Zaio Corporation (TSXV: ZAO) (the "Company" or "Zaio") announces that it has issued 1,212,442 common shares to debenture holders in consideration of December 31, 2014 interest payments in the amount $253,400 pursuant to the terms of the debentures issued under the trust indenture dated May 9, 2013. The conversion price per share for the December 31, 2014 interest payment was $0.209, determined based on the greater of the 20 day weighted average trading price of Zaio's shares prior to December 31, 2014 and closing market price of Zaio's shares on the last trading day prior to the interest payment date.
Holders of approximately 93 percent of the outstanding debentures have agreed to take shares as their form of interest payment for this semi-annual interest payment date.
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 evaluations 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 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
SOURCE Zaio Corporation
For further information:
For further information visit www.zaio.com or contact:
President & CEO
Virtus Advisory Group Inc.