Virtual Universe Corporation Obtains Interim Order Relating to Going-Private Transaction

EDMONTON, Feb. 4, 2013 /CNW/ - Virtual Universe Corporation (the "Corporation") (TSX-V:VU) announced today that it has obtained an interim order of the Court of Queen's Bench of Alberta on February 4, 2013 which provides for, among other things, the holding of a special meeting of the shareholders of the Corporation to approve the previously announced going-private transaction (see News Release dated February 1, 2013).

The special meeting of shareholders is scheduled to be held on March 6, 2013 at 9:00 a.m. (MST) in the Gallery 2 room at the Radisson Edmonton South Hotel, 4440 Gateway Boulevard N.W., Edmonton, Alberta. Shareholders of the Corporation of record as of January 30, 2013 are entitled to receive notice of, and vote at, the special meeting.

The Corporation intends to mail its management information circular, along with notice of special meeting, form of proxy and letter of transmittal (collectively, the "Meeting Materials") to shareholders in the next few days.  The Meeting Materials will also be available on the Corporation's SEDAR profile at www.sedar.com no later than the time of mailing.

Advisories:

Certain information in this press release is "forward-looking information" within the meaning of applicable Canadian Securities legislation and is prospective in nature, including information regarding the timing of the special meeting, the mailing of the Meeting Materials and the completion of the going-private transaction. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events, and is therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking information. This information generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations.  The Corporation can give no assurance that such forward-looking information will prove to have been correct.

The reader is cautioned not to place undue reliance on this forward-looking information, which speaks only as of the date of this press release.

The Corporation disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, further events or otherwise, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: Virtual Universe Corporation

For further information:

Virtual Universe Corporation
Mr. Lorn Becker - President and CEO
Telephone: (780) 469-7477