TSX VENTURE EXCHANGE SYMBOL - UI
MONTREAL, Nov. 15, 2013 /CNW Telbec/ - Urbanimmersive Technologies Inc.
(the "Corporation" or "Urbanimmersive"), is pleased to announce it has engaged Desjardins Capital Markets as
sole Agent (the "Agent") on a best-efforts basis for a private placement (the "Offering") to raise proceeds of a minimum of $1,000,000 through the sale of common shares of Urbanimmersive (the "Common Shares") at the price of $0.25 per Common Share.
Upon Closing of the Offering, Urbanimmersive will compensate the Agent
through the issuance of 350,000 Common Shares.
The Offering is expected to close on or about December 5th, 2013, and is subject to applicable regulatory approvals, including
approval of the TSX Venture Exchange. All securities issued in the
context of the Offering will be subject to a four months and one day
hold period. The net proceeds from the Offering will be used for sales
and marketing initiatives, research and development and for working
Urbanimmersive will file an application to obtain an advance ruling from
the Ministère du Revenu du Québec in order to confirm that it is a
qualified issuing corporation for the purposes of the Quebec Stock
Savings Plan II ("QSSP II") and that the Common Shares to be issued pursuant to the Offering will
be qualified shares for a QSSP II qualified mutual fund for investors
who require it.
Headquartered in Laval, Quebec, the Corporation is a leading-edge
digital media company that combines its innovative immersive technology
with high quality visual content to offer, in the real estate online, offline and mobile advertising markets, digital
media visual content immersive solutions. The Corporation also licenses
its full suite of software and technology to channel partners in other
markets. The Corporation currently has 38 employees.
The Corporation is a one stop shop for visual content digital media in
the real estate market. Its customers consist of residential,
commercial and industrial realtors, brokers and home builders to whom
the Corporation offers an innovative and unique immersive technology
which products are utilized for real estate online, offline and mobile advertising, as well as a large
range of visual content services. AVU3D®, the Corporation's immersive multimedia technology, produces 3D
immersive environments of real and future building assets through which
vendors and customers can interact online, either with one another or
with objects present in the virtual environment, as if they were fully
immersed in it. The Corporation's comprehensive suite of software
related to its AVU3D® immersive technology enables its partners and advertisers to add
elements such as hotspots containing links, videos, and gaming
elements. It allows for an engaging immersive user experience therefore
providing a better multimedia and interactive experience for internet
The Corporation's visual content services include the production of 3D
drawings, images and 3D animations, interactive color changing
application and 3D online immersive environments.
The Corporation has a limited direct sales force; however, it reaches
the real estate market through specialized resellers including
architectural photographers, virtual tour providers, web site
producers, architects and marketing communication agencies.
The Corporation's immersive technology is also applied to other markets
such as, but not limited to, serious games, advergames, security,
building and facility management and business advertising. The
Corporation reaches other market segments through channel partners with
which it enters into license agreements enabling them to integrate
Urbanimmersive's immersive multimedia technology into their business
strategy as a value added offer to their customers.
Caution Concerning Forward-Looking Statements
Certain statements made in this press release, which are not historical
facts, are forward-looking statements. The Corporation is hereby
providing cautionary statements identifying important factors that
could cause the actual results to differ materially from those
projected in the forward-looking statements. By their nature,
forward-looking statements involve numerous assumptions, inherent risks
and uncertainties, both general and specific, which contribute to the
possibility that the predicted outcomes may not occur or may be
delayed, such as general market conditions, failure to locate
subscribers willing to participate or failure to obtain the necessary
regulatory approvals. Such risks, uncertainties and other factors, many
of which are beyond the control of the Corporation, that could
influence actual results include those summarized under the heading
"Risks and Uncertainties" in the Corporation management discussion and
analysis dated August 27, 2013, filed with the Canadian securities
Furthermore, unless otherwise noted, any forward-looking statement
speaks only as of the date of this press release, and, except as
required by applicable law, the Corporation does not undertake any
obligation to update any forward-looking statement to reflect events or
circumstances after the date on which such statement is made or to
reflect the occurrence of unanticipated events.
* * *
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States or to any
U.S. Persons. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended, or the
securities laws of any state of the United States of America and may
not be offered or sold within the United States of America or its
territories or possessions unless pursuant to an exception therefrom.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: Urbanimmersive Technologies
For further information:
Ghislain Lemire, President and CEO
514-394-7820 or email@example.com