VANCOUVER, Aug. 22 - OneMove Technologies Inc. ("OneMove" or the "Company") (TSX-V: OM), a provider of a leading web-based real estate transaction platform, today announced amendments to the terms of the non-brokered private placement the Company previously announced on June 26, 2008.
Under the revised terms, OneMove intends to issue approximately 9.2 million units at a price of $0.06 per unit, for total proceeds of up to $550,000. Each unit will consist of one common share and one common share purchase warrant, exercisable at a price of $0.10 per share for a period of two years. The proceeds from the private placement will be used for continued
software development.
The private placement is expected to close on or about August 29, 2008. The common shares and warrants issued through the private placement will be subject to a four-month hold period from the date of closing, as per the policies of the TSX Venture Exchange and applicable securities legislation.
OneMove today also announced that Derek Wasson has resigned from the Company's Board of Directors, effective immediately. Mr. Wasson joined the OneMove Board in May 2007.
"We thank Derek for his commitment to OneMove over the past year and wish him well in his future endeavors," said Martin Johnson, President and CEO, OneMove Technologies.
About OneMove Technologies Inc.
OneMove Technologies Inc. (TSX-V:OM) offers a leading real estate transaction platform. Through econveyance(TM), its proprietary web-based conveyancing software solution, OneMove(TM) simplifies and expedites the process of buying and selling real estate in British Columbia, Canada. Econveyance links all participants in the property transfer process, offering a secure and efficient means of seamlessly completing the transaction online. Additional information about OneMove can be found at www.onemovetech.com or www.sedar.com.
Forward Looking Statement
This press release contains certain "forward looking statements." These statements relate to future events or future performance and reflect expectations and belief regarding growth, results of operations, performance, business prospects, opportunities or industry performance and trends. These forward looking statements reflect current internal projections, expectations or beliefs and are based on information currently available. A number of factors could cause actual events or results to differ materially from the results discussed in the forward looking statements. Although it is believed that the forward looking statements contained in this press release are based upon reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward looking statements. These forward looking statements are made as of the date of this press release, and OneMove Technologies Inc. assumes no obligation to update or revise them to reflect new events or circumstances, except as required pursuant to applicable securities laws.
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
SEDAR: 00023118E
For further information:
Martin R. Johnson, President & CEO,
(604) 662-8207 ext 116,
martin.johnson@onemovetech.com;
Kristen Dickson, Investor Relations, The Equicom Group,
(416) 815-0700 ext 273,
kdickson@equicomgroup.com