OneMove Technologies Inc. ("OneMove" or the "Company") (TSX-V: OM), a provider of a leading web-based real estate transaction platform, announced today that its previously announced non-brokered private placement was fully subscribed and closed on September 4, 2008.
OneMove issued 9,421,690 units at a price of $0.06 per unit, for total proceeds of $565,301. Each unit consisted 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 common shares and warrants issued through the private placement are 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.
The TSX Venture Exchange has approved the transaction.
In addition, the Company announced that it has retained the services of KCrew Communications Inc, a financial marketing and corporate communications firm based in Vancouver, B.C., Canada, to provide certain investor relations services to augment its current investor relations program. The engagement will commence September 5, 2008, subject to TSX Venture Exchange approval.
KCrew Communications will receive a fee of $8,500 per month for the first two months of the contract plus miscellaneous expenses, and will be granted 300,000 incentive stock options exercisable at $0.10 per share. The investor relations contract is for a term of four (4) months.
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 Statements
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.
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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