VANCOUVER, April 12 /CNW/ - OneMove Technologies Inc. ("OneMove" or the
"Company") (TSX.V: OM) is pleased to announce that it has closed its
previously announced $500,000 bridge financing with GC-Global Capital Corp.
The Company intends to repay the bridge loan from the proceeds of the
Company's previously announced brokered private placement with Cormark
Securities Inc. (formerly Sprott Securities Inc.) (the "Private Placement").
The bridge loan bears interest at 12% per year, calculated and payable
monthly and is secured by a general security agreement over all present and
future movable property of the Company and OneMove Online Systems Inc. (the
Company's wholly-owned subsidiary), a share pledge of 100% of the shares of
OneMove Online Systems Inc., and a personal guarantee from Mr. Martin Johnson,
the Company's President and CEO. The loan is repayable at the earlier of
October 4, 2007, and the closing of the Private Placement. In consideration
for providing the guarantee, the Company issued Mr. Johnson 125,000 common
shares at a deemed price of $0.40 per share. The Company has also engaged
GC-Global Capital Corp. for one month to provide financial advisory services
in consideration for 125,000 common shares of the Company.
About OneMove www.onemovetech.com
OneMove is a one-stop shop designed to simplify moving, from a paperwork
and legal red tape standpoint. It currently operates in the British Columbia
and U.K. markets. OneMove facilitates efficient communication between parties
such as lawyers, conveyancers, realtors and buyers and sellers. OneMove's U.K.
operation also offers a one-stop online shop for home buyers to access real
estate listings, its unique insurance product, and its association of realtors
and solicitors (www.onemove.com).
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Investor Relations: Grant Howard or David
Gordon, The Howard Group Inc., Toll Free: 1-888-221-0915,