By Laura Lutz
Des Moines, May 2 - Zaio Corp. negotiated a private placement of shares for C$12 million.
The company plans to sell 4 million shares at C$3.00 each through underwriter Clarus Securities Inc.
Proceeds will be used to accelerate the company's photography and data-gathering operations as well as for working capital and general corporate purposes.
Settlement is expected on May 17.
Based in Calgary, Alta., Zaio maintains a database of property information.
| Issuer: | Zaio Corp.
|
| Issue: | Shares
|
| Amount: | C$12 million
|
| Shares: | 4 million
|
| Price: | C$3.00
|
| Warrants: | No
|
| Underwriter: | Clarus Securities Inc.
|
| Pricing date: | May 2
|
| Settlement date: | May 17
|
| Stock symbol: | TSX Venture: ZAO
|
| Stock price: | C$3.32 at close May 1
|
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