CALGARY, ALBERTA -- (Marketwire) -- 03/27/13 -- Zaio Corporation (TSX VENTURE: ZAO) (the "Company"), today reported that as of Tuesday March 26, 2013, a preliminary total of over $3.0 million out of a possible total of $4.3 million had cast votes in favour of the previously announced debenture extension proposal.
"I would like to sincerely thank Zaio's debentureholders for voting in favour of the Company's proposal. I am pleased that the Company and its debentureholders are aligned and focused on the future of the company and working together." commented David King, ZAIO President and CEO. "Zaio now has multiple products selling on a daily basis, significant territory expansions underway, and the alignment of the company's senior creditors to be ratified at the special meeting on April 1. Zaio is in a position to take advantage of the massive opportunity our patented technology affords us in the United States market," added Mr. King.
As previously announced, to become effective, in addition to the approval of the TSX Venture Exchange, the proposed amendments require approval by way of Extraordinary Resolution (as defined in the Trust Indenture) passed at a meeting of Debenture holders called and held in accordance with the terms of the Trust Indenture. As such, the Company has called a meeting of its Debentureholders on April 1, 2013.
The Company also confirmed that its 2012 audited financial statements are available on SEDAR and on its website www.zaio.com.
For further information visit www.zaio.com.
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 valuations prepared by licensed appraisers across the United States. The Company's products are available in the United States through its Licensee, Zone Data Systems LLC.
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.
This press release contains forward looking statements. 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.
Neither TSXV, CNSX nor their Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
President & CEO
Genoa Management Ltd.
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