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VANCOUVER, April 11 /CNW/ - OneMove Technologies Inc. ("OneMove" or the
"Company") (TSX.V:OM) today announced the pricing of its previously announced
private placement financing with Cormark Securities Inc. (formerly Sprott
Securities Inc.) ("Cormark" or "the Agent"). The Company expects to issue
22,222,222 common shares at a price of $0.36 per share on a best efforts
private placement basis. The financing is expected to be completed on or about
April 26, 2007.
Completion of the private placement is subject to the Company obtaining
the remaining 27.5% interest in the Company's subsidiary, One Move Limited
(UK) and receipt of all necessary regulatory approvals, including the approval
of the TSX Venture Exchange.
The Agent will receive a cash fee of 7% of the gross proceeds raised from
the private placement. As additional compensation, the Company will issue to
the Agent broker warrants entitling the Agent to purchase 1,555,556 common
shares of the Company exercisable at $0.36 for a period of twenty-four months
following the closing.
The net proceeds of the offering will be used for increased working
capital required to expedite UK sales and for general corporate purposes
including the purchase of capital assets, continuing research and development
and repayment of debt.
"This financing provides OneMove the capital to execute its business
objectives both domestically and internationally," stated Martin Johnson,
President and CEO of OneMove. "As a growing company, we are pleased with our
new relationship with Cormark and the support that we have received throughout
the financing process."
The shares will be subject to a hold period of four months plus one day
from the date of issuance in accordance with the policies of the TSX Venture
Exchange and applicable securities laws.
About OneMove Technologies. www.onemovetech.com
OneMove began life by creating a sophisticated software program that
brought innovative advantages for all involved in British Columbia's real
estate market, a Canadian province where real estate transactions were already
near perfect. OneMove then jumped into the British market offering a one-stop
shop designed to simplify all aspects of moving. It currently operates in the
British Columbia and U.K. markets. OneMove facilitates efficient communication
between parties such as lawyers, conveyancers, realtors, lenders, buyers and
sellers. OneMove's U.K. operation also offers a one-stop online shop for home
buyers to access real estate listings through the largest property search
portal, its unique insurance product, and its association of service providers
which include realtors, solicitors and lenders (www.onemove.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
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
For further information:
For further information: Corporate Contact: Martin R. Johnson, President
& CEO, (604) 662-8207, email@example.com; Investor Relations: Bob
Beaty, David Gordon, The Howard Group Inc., Toll Free: 1-888-221-0915,