CALGARY, Oct. 14, 2016 /CNW/ - Zaio Corporation (TSXV: ZAO) (the "Company" or "Zaio") is pleased to announce that is has officially re-launched as Clarocity Corporation (TSXV: CLY) as part of its strategy to take the company to the next-level as an integrated technology and services company providing the next-generation of appraisal and valuation solutions. Clarocity is entirely about NEXT.
"From its inception, the Clarocity brand has represented the clarity and speed that our proprietary technologies bring to the entire valuation process," said Shane Copeland, Chief Executive Officer of Clarocity Corporation. "While we've been signalling this move for months, the addition of Valued Veterans is a key strategic component that will provide the integrated services and access to licensed appraisers needed to fuel product demand and adoption with our lending clients. Demand for our valuation technology and our next generation product innovations has exceeded our expectations, as we have built a pipeline of licenses ready to begin the rollout process."
As part of the rebranding, Clarocity Corporation has launched a new website (Clarocity.com) focused on the underlying platform technology that powers their next-generation valuation products and solutions. As part of the overall distribution strategy, Clarocity is making its platform technology available for license to select lenders and valuation companies seeking to produce these proven proprietary valuation solutions. This strategy is the first step of transforming Clarocity into a PaaS (Platform as a Service) company.
"Over the last several years, we've successfully completed hundreds of thousands of orders through Valuation Vision and current platform licensees," stated Bill Mohler, Executive Vice President of Marketing. "By licensing our technology platform, we're not only greatly expanding our distribution opportunity, we're creating an entirely new marketplace for solutions that disrupt traditional appraisal and broker price opinions."
Shareholders approved the name change by resolution at the April 25, 2016 annual shareholder meeting. Effective Monday, October 17, 2016 Clarocity Corporation common shares will replace Zaio Corporation common shares 1:1. The Company will trade under the ticker CLY and remain listed on the TSX Venture Exchange.
About Clarocity Corporation
Clarocity Corporate (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 Zaio 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]