CALGARY, Sept. 14, 2016 /CNW/ - Zaio Corporation (TSXV:
ZAO) (the "Company" or "Zaio") today announced that
holders of the debentures issued January 25,
2016 have elected to receive an aggregate of 1,286,891
common shares in lieu of cash as consideration for interest
payments amounting to $149,279.10 due
August 31, 2016.
Under the terms of the of the indenture dated January 25, 2016, holders may elect to receive
settlement of quarterly interest payments in the equivalent common
shares of the Company converted at the greater of the market price
prescribed under the policies of the TSX Venture Exchange or the
volume average trading price for the 5 trading days prior to the
interest payment date. The conversion rate applicable to the
August 31, 2016 interest rate payment
is $0.116 per common share. Following
the issuance, the Company will have 191,749,823 issued and
outstanding shares.
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.
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 share issuance 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