/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, June 22, 2016 /CNW/ - Zaio Corporation (TSXV:
ZAO) ("Zaio" or the "Company") is pleased to announce that it has
signed a letter of intent (the "LOI") to acquire a U.S. national
Appraisal Management Company (AMC). The transaction is expected to
close within 45 days of submission and will not require any
additional capital to be raised.
Purchase price will consist of both shares of Zaio and cash for
which financing has been arranged. Existing AMC management
will remain in place. Closing is subject to definitive
documentation and applicable regulatory approvals including the
approval of the TSX Venture Exchange.
"We are thrilled to be acquiring a national Appraisal Management
Company to meet demand from our current client base using our
existing Valuation Vision technology and immediately bolster our
top line. Through this acquisition, we become licensed in all 50
states to perform a wider scope of appraisal services, as well as
retain the top tier management team of an industry leading AMC,"
said Shane Copeland, CEO of Zaio
Corporation. "This proposed acquisition will significantly broaden
our operational bandwidth, revenue and market penetration with the
rapid expansion into the next generation of appraisal products such
as MVPro. Through acquisition rather than building we are better
able to take advantage of pending appraisal opportunities at a much
faster pace."
There is no assurance the acquisition will close.
About Zaio Corporation
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. At Zaio, our mission is to ensure that our solutions
provide businesses and consumers unparalleled insight into their
real estate assets. For more information, visit www.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.
Forward-Looking Information
This news release contains forward-looking statements which may
include financial and business prospects, as well as statements
regarding the Company's future plans, objectives or economic
performance and financial outlooks. Such statements are subject to
risk factors associated with the real estate industry, the overall
economy in both Canada and
the United States. Forward-looking
information in this press release, includes, among other things,
information relating to any applicable approvals required in order
to complete the transaction, which may include, but is not limited
to, the approval of the TSX Venture Exchange. 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.
This news release does not constitute an offer to sell or
a solicitation of an offer to buy any 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