/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, Aug. 2, 2016 /CNW/ - Zaio Corporation (TSXV: ZAO)
("Zaio" or the "Company") is pleased to announce that it has closed
the third and final tranche of its previously announced (see press
releases January 26, 2016 and
June 1, 2016) private placement (the
"Financing") with gross proceeds of an additional $29,000 for total gross proceeds pursuant to the
fully subscribed Financing of approximately $4,000,000.
Zaio issued an aggregate amount of $29,000 in principal amount of debentures
("Debentures") at a price of $1,000
per $1,000 principal amount of
Debenture. The Debentures will mature on January 25, 2019.
As part of the Financing, Zaio also issued 87,000 common share
purchase warrants ("Warrants"), representing a total of three
Warrants issued for each $1.00 of
principal amount of Debentures. Each Warrant entitles the holder
thereof to purchase one common share ("Common Share") in the
capital of the Company at $0.11 per
Common Share exercisable for a period of 36 months from the date of
issuance.
The securities issued pursuant to the Financing will be subject
to a four-month hold period.
The proceeds from the Financing will be used for general
corporate purposes. This transaction is subject to the submission
of final documentation and final approval of the TSX Venture
Exchange.
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.
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