Spire Technologies Inc. (OTC: SPTK) Announces a Memorandum of Understanding to Acquire and Launch Web-Based Student Housing Platform

VANCOUVER, Oct. 5, 2016 /CNW/ - Spire Technologies Inc. ("Spire") (OTC: SPTK) announces an agreement with DormBooker Inc.("DormBooker" or "the Company"), which will see DormBooker's principals, industry veterans, Amyn Diamond Murji ("Murji"), Jeff Zigman ("Zigman"), & Mayur Patil ("Patil"), become Senior Consultant Executives in Spire's wholly owned subsidiary for the purpose of acquiring DormBooker, a business similar to Airbnb, but specific to the student housing market.

DormBooker is a student housing booking platform that allows students to search for and book suitable living accommodations using their preferred criteria, in whichever city around the world they are pursuing their studies.  This will simplify the students' search significantly while also giving landlords an easy and convenient way to rent out their properties with minimal effort.  With over 10 years of experience in running their own student housing, they successfully beta tested the concept on their own student housing facilities and are now ready to roll out the platform to the $45.1B North American Student Housing Market, according to Concordia Small Business Consulting Bureau, which completed the Company's research and business plan. 

Amyn Murji commented on the business dynamics: "We have found that with the number of young people around the world pursuing higher education, as well as, the amount of students travelling outside of their own cities and often their own countries in order to pursue their studies, there is a massive amount of demand for student housing in cities across the world."  International students' spending in all 50 States contributed more than $27 billion to the U.S. economy in 2013.  According to the National Center for Education Statistics, in 2015, approximately 20.2 million students were expected to attend American colleges and universities. However, what we have found is that there is often little to no guidance for these students to find a place to live when arriving in their city of choice.  With DormBooker students eliminate the need to search several different websites in order to compare their options and it also allows students to highlight the criteria that is most important to them, whether it be proximity, budget or certain facility requirements or preferences.  On the flip side of the coin, many landlords face challenges in ensuring their properties get the right type of exposure, as well as, challenges relating to all of the back and forth that is often required in order to rent out a unit to a student often in another time zone.  DormBooker will simplify the process for everyone involved.  

Murji and Zigman are confident that the DormBooker platform is a robust and integrated platform fully engineered to meet all expectations of both landlords and students. Zigman added: "With a low cost structure and our solid experience in the industry, DormBooker has the potential to become a dominant player in an already attractive student housing market and the capability to seize the opportunities of other markets. With our diversified backgrounds and experience, we are confident that we can quickly become every student's first stop when looking for accommodations.  We truly believe that our focus on simplifying every part of the process for all parties, and fusing this with being part of the hyper successful online booking industry will be the foundation of our success".

The Company believes Murji, Zigman, Patil, are uniquely qualified to develop the DormBooker business with Spire.  Together, they have decades of branded digital content creation, marketing, development, sales, and customer service experience. 

Amyn Diamond Murji is a Canadian born and based businessman, with over 20 years experience in the dot.com, customer service, and real estate industries. During his years in real estate, Amyn built and managed retail, industrial, and student housing. Having managed student housing for 10 years, he understands student housing on several levels. It was from this experience in the student housing industry that the idea for DormBooker originated. Amyn has a B.A. from Concordia University.

Jeff Zigman graduated from McGill Electrical Engineering in 2008 and has been involved in software since high school. He played a large role in the design of the BlackBerry mobile applications of Securitas and VIA Rail, among others, and he started and led several startups of his own before DormBooker, perfecting and solidifying his expertise in software design, project management, and testing. He has been the Chief Technical Officer of DormBooker since development began at the beginning of 2014.

Mayur Patil has his Masters in Computer Science from Concordia University and has been Lead Developer at DormBooker since its inception. Having developed the core code of DormBooker, he continues its ongoing development, while establishing programming guidelines and overseeing the code of other developers.

Forward-Looking Statements. This press release contains forward-looking statements. These forward-looking statements are identified by, among other things, the words "anticipates", "believes", "intends", "expects", "plans", "projects", "thinks" and similar expressions.  Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

SOURCE Spire Technologies Inc.

For further information: Sasha Ghavami, +1 (514) 898-5593

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