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Zaio Database Surpasses 30 Million Properties Across 10 StatesCustomer Validation Has Been Completed or Is Underway With Multiple National Scope End Users (June 26, 2012)
CALGARY, ALBERTA -- (Marketwire) -- 06/26/12 -- Zaio Corporation (TSX VENTURE:ZAO)(CNSX:ZAO) (the "Company") today announced that it had Marketable Property Appraisal Data available for order taking from its database on more than 30 million US residential properties covering 10 states. This represents an increase of approximately 50 percent over 20 million properties in the database reported at the end of the first quarter.
"A number of national level clients are in the process of coordinating product design and delivery schedules now, with several regional clients already receiving a growing number of valuation products offered through the Zaio database," noted G. Daniel Green MAI, SRA, member of the Managing Committee of Zone Data Systems LLC, Zaio's United States Licensee ("ZDS"). This increased validation activity is a leading indicator of the expected demand for Zaio's property appraisal products and services.
"I am very pleased with the progress that we have made this quarter in expanding both the scope of our database and the reach of our product distribution network," noted David King, Zaio's President and CEO. "Our resellers across the US have been introducing Zaio's appraisal products to their financial services clients who are looking for better, faster, and less expensive alternatives to existing property valuation tools. As a result, we are seeing more and more of these potential customers committing the necessary resources to validating the quality of Zaio's products."
Through its US Licensee, Zone Data Systems LLC (ZDS), Zaio sells access to its patented property appraisal database to various end users including national, regional and local financial institutions that require access to timely accurate property appraisals to support their regulated mortgage underwriting activities. Approximately $6 billion is spent annually in the US on property appraisal reports and related products.
Zaio defines Marketable Property Appraisal Data as a complete digital file of current valuation information on an individual residential property that has been compiled in Zaio's database and has been verified by a local certified appraiser as compliant with the requirements to deliver online, on demand appraisal reports to the Company's customers.
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.
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