News!!!!!we are back in business. This news only came up at the TSX site. VERY GOOD NEWS.....
Zaio Establishes New Terms for United States Launch
CALGARY, May 12 /CNW/ - Zaio Corporation, (TSX-V: ZAO) ("Zaio" or the"Company") announced today that the Company has signed a letter of intent andterm sheet ("Terms") with the Zaio Zone Appraisers in the United States toproceed with a plan to complete the Company's national valuation database andoffer services to lenders across the country. The new Terms are expected to solve certain barriers that Zaioexperienced in the past while compiling the world's first appraiser certifiednational valuation database. Zaio will be issuing a national license for itspatent pending technology to a new US entity which will be owned and operatedby approximately 350 appraisal firms that currently hold Zaio Zone licenses inmost major US cities. Zaio will receive a royalty equal to 50% of the profitsgenerated by the sale of products from the growing appraisal and photodatabase. Zaio will no longer incur the cost and management obligations ofrunning a large US appraisal operation and will be able to focus on furtherdevelopment of its own technology. From the Zone Owner's perspective therewill be greater incentive to complete the respective market value research anddata collection in each Zone. In addition, the unification of these skilledappraisers will create one of the largest national appraisal networks in theUnited States powered by Zaio's award winning appraisal database technology. Randy S. Kass, Chairman of the Zone Owners' Advisory Committee says: "Weare convinced that the Zaio system offers a revolutionary platform throughwhich real estate appraisals and data can be provided with local marketexpertise and delivered in a manner that will offer significant improvementsto valuation and service excellence." Bradley Stinson, CEO of Zaio stated: "The Zone Owners are an organizedgroup of entrepreneurial appraisal firms. We are very pleased to work withprofessionals that have exhibited a passion for market value research." The Company also wishes to confirm that Bradley Stinson, founder andinventor of the Zaio technology concept, has been officially appointed CEO ofZaio Corporation. About Zaio ( www.zaio.com) Zaio develops and maintains a secure database of site-verified photos,property information and appraisals of virtually every property in entirecities. Leading local appraisers inspect, and appraise entire neighborhoods,one residence at a time from the street using a proprietary "GeoScore(TM)"rating system. Zaio: a public corporation trading under the symbol "ZAO" onthe TSX-V Exchange in Canada. << The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. >> This news release contains forward-looking statements which may includefinancial and business prospects, as well as statements regarding theCompany's future plans, objectives or economic performance and financialoutlooks. Such statements are subject to risk factors associated with the realestate industry, and the overall economy in both Canada and the United States.The Company believes that the expectations reflected in this news release arereasonable but actual results may be affected by a variety of variables andmay be materially different from the results or events predicted in theforward-looking statements. Readers are therefore cautioned not to place unduereliance on these forward-looking statements. In evaluating forward-looking statements readers should consider the riskfactors which could cause actual results or events to differ materially fromthose indicated by such forward-looking statements. These forward-lookingstatements are made as of the date hereof, and unless otherwise required byapplicable securities laws, the Company does not intend nor does it undertakeany obligation to update or revise any forward-looking statements.-30-
/For further information: Bradley Stinson, CEO, or Rodney Mitton, CFO,(877) 318-0537/