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Message: Zaio rebrands itself as Clarocity, changes symbol

Zaio rebrands itself as Clarocity, changes symbol

2016-10-14 17:39 ET - News Release

Mr. Shane Copeland reports

ZAIO CORPORATION REBRANDS AS CLAROCITY TO SUPPORT INTEGRATED VALUATION TECHNOLOGY FOCUS

Zaio Corp. has officially relaunched as Clarocity Corp. as part of its strategy to take the company to the next level as an integrated technology and services company providing the next generation of appraisal and valuation solutions. Clarocity is entirely about next.

"From its inception, the Clarocity brand has represented the clarity and speed that our proprietary technologies bring to the entire valuation process," said Shane Copeland, chief executive officer of Clarocity. "While we've been signalling this move for months, the addition of valued veterans is a key strategic component that will provide the integrated services and access to licensed appraisers needed to fuel product demand and adoption with our lending clients. Demand for our valuation technology and our next-generation product innovations has exceeded our expectations, as we have built a pipeline of licences ready to begin the rollout process."

As part of the rebranding, Clarocity has launched a new website focused on the underlying platform technology that powers its next-generation valuation products and solutions. As part of the overall distribution strategy, Clarocity is making its platform technology available for licence to select lenders and valuation companies, seeking to produce these proven proprietary valuation solutions. This strategy is the first step of transforming Clarocity into a PaaS (platform as a service) company.

"Over the last several years, we've successfully completed hundreds of thousands of orders through valuation vision and current platform licensees," stated Bill Mohler, executive vice-president of marketing. "By licensing our technology platform, we're not only greatly expanding our distribution opportunity, we're creating an entirely new marketplace for solutions that disrupt traditional appraisal and broker price opinions."

Shareholders approved the name change by resolution at the April 25, 2016, annual shareholder meeting. Effective Oct. 17, 2016, Clarocity common shares will replace Zaio common shares one for one. The company will trade under the ticker CLY and remain listed on the TSX Venture Exchange.

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