/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, July 8, 2016 /CNW/ - Zaio Corporation (TSXV: ZAO)
(the "Company" or "Zaio") announces that debentureholders have
agreed to take shares as payment for a total of $90,750 of the June 30,
2016 debenture interest payment pursuant to the terms of the
debentures issued under the trust indenture dated May 9, 2013. Subject to TSX Venture Exchange
approval, the Company will issue 625,860 common shares in lieu of
cash based a deemed conversion price per share of $0.145, being the greater of the 20 day weighted
average trading price of Zaio's shares prior to June 30, 2016 and closing market price of Zaio's
shares on last trading day prior to the interest payment date.
A total of $131,400 of
debenture interest payments will be made in cash pursuant to the
terms of the May 9, 2013 trust
indenture. Holders of approximately 41 percent of the outstanding
debentures agreed to take shares as their form of interest payment
for this semi-annual interest payment date.
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