Zaio cancels merger with Axis Appraisal

2015-11-06 09:24 ET - News Release

Mr. Shane Copeland reports

ZAIO ANNOUNCES TERMINATION OF AXIS MERGER

Zaio Corp.'s board of directors has determined that the previously announced merger with Axis Appraisal Management is not in the best interest of Zaio shareholders at this time, and as a result, the transaction will not be closed.

"We have tremendous respect and admiration for the people at Axis. However, the deteriorating economics of the transaction, including the precipitous decline of the Canadian dollar, prompted us to review this transaction," stated Joel Strickland, chairman of the board. "As we drilled down into the customer acceptance of the Valuation Vision products, we determined that our focus and resources were best applied to execute on the growth opportunities that are maturing out of Valuation Vision."

The company plans to continue to build upon its business relationship with Axis through the marketing of shared products and generating other mutually beneficial opportunities.

We seek Safe Harbor.