Zaio closes $15.0 million private placement financing


    TSX Venture Exchange Symbol: ZAO

    CALGARY, Dec. 18 /CNW/ - ZAIO CORPORATION (TSX-V: ZAO) ("Zaio" or the
"Company") today announced that its private placement financing previously
announced on December 6, 2007 has closed. The financing placed 13,650,000
Units at a price of $1.10 per Unit for gross proceeds of $15,015,000 (the
"Offering"). Clarus Securities Inc. and Oppenheimer & Co. Inc. (collectively,
the "Agents") acted as co-lead agents in connection with the Offering.
    Each Unit consists of one common share in the capital of the Company (a
"Common Share") and one-half of one Common Share purchase warrant (a
"Warrant"). Each whole Warrant entitles the holder to purchase one Common
Share of the Company at an exercise price of $1.50 for a period of 24 months
from the closing of the Offering.
    The Agents received an aggregate cash commission equal to 7% of the gross
proceeds of the Offering and were granted a number of compensation options
equal to an aggregate of 7% of the total number of Units sold pursuant to the
Offering. Each compensation option entitles the holder thereof to acquire one
Unit at an exercise price of $1.10 per Unit on the same terms and conditions
of the Offering, for a period of 24 months from the closing of the Offering.
    Net proceeds of the financing will be used by the Company to accelerate
photography and data gathering operations throughout the United States to
facilitate the establishment of a complete national footprint of site-verified
real estate information and imagery, as well as for working capital and
general corporate purposes.

    About Zaio

    Zaio develops and maintains a site-verified database of photos,
valuations and property information of virtually every property in entire
cities, using a proprietary "GeoScore" property rating system. Zaio and its
network of premiere, local appraiser experts photograph and appraise entire
cities, one building at a time from the street. 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 U.S. under the trading symbol "ZAOFF". For
more company information, visit

    This news release does not constitute an offer to sell or a solicitation
of an offer to buy any securities in the United States. The offered securities
mentioned in this news release will not be registered under 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.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release.

    This news release contains "forward-looking statements" within the
meaning of application Canadian securities legislation. The words "could",
"plan", "expect", "estimate", "anticipate", "project", "predict", "intend",
"may", "potential", "believe" and similar expressions and variations thereof
are forward-looking statements. These include, but are not limited to,
statements respecting anticipated business activities, planned expenditures,
corporate strategies, and participation in projects and financing and any
other statements that are not historical facts. Statements in this release
that are forward-looking statements are subject to various risks and
uncertainties concerning the specific factors disclosed in the Company's
periodic filings with Canadian securities regulators. Although the Company
believes that its expectations reflected in these forward-looking statements
are reasonable, such statements involve risks and uncertainties and no
assurance can be given that actual results will be consistent with these
forward-looking statements. Such information contained herein represents
management's best judgment as of the date hereof based on information
currently available. The reader is cautioned not to place undue reliance on
forward-looking statements. The Company undertakes no obligation to publicly
revise these forward-looking statements to reflect events or circumstances
that arise after the date of this filing. You should carefully review the
cautionary statements and risk factors contained in this and other documents
that filed by the Company from time to time with the Canadian securities

    %SEDAR: 00020572E

For further information:

For further information: Rodney D. Mitton, CFO - (403) 802-2033

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Zaio Corporation

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