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TSX VENTURE EXCHANGE SYMBOL - UI.P
MONTREAL, Oct. 12, 2012 /CNW Telbec/ - Urbanimmersive Technologies Inc. (the "Corporation" or "Urbanimmersive"), formerly UI Capital Inc., is pleased to announce today that the TSX Venture Exchange Inc. (the "TSX-V") has accepted for filing the Corporation's Qualifying Transaction consisting of the acquisition by the Corporation of all of the securities of Urbanimmersive Inc. (the "Acquisition"). The TSX-V has issued its final exchange bulletin on October 12, 2012.
Trading in the common shares of the Corporation (the "Common Shares") will resume at the opening of the markets on Monday, October 15, 2012.
The name of the Corporation has been changed from UI Capital Inc. to Urbanimmersive Technologies Inc.
After giving effect to the Acquisition and the completed concurrent private placement there are 13,464,775 Common Shares issued and outstanding.
The following table sets out the names, positions and number of Common Shares beneficially owned or controlled by the insiders of the Corporation:
|Name|| Position with the
| Number and Percentage of
|Ghislain Lemire(1)||Director, President & CEO & Promoter||1,074,076|
|James McDonald(2)||Director and Chairman||1,031,694|
|Martin Lemire(1)||Vice President, R&D||1,020,776|
|Martin Thibault(1)||Vice President of Sales||936,309|
|David Lafond(1)||Vice President, Technology||936,309|
|Jean Asselin(4)||Vice President Finance & HR||1,026,909|
|Emmanuelle Robichaud(1)||Vice President Legal Affairs and Corporate Secretary||266,667|
|(1)||Registered owner of the Common Shares. In addition, Ghislain Lemire, co-founder of Urbanimmersive, has acted as promoter of Urbanimmersive within the two years of the Qualifying Transaction.|
|(2)||Of which 532,334 Common Shares are registered to 7081464 Canada Inc., a corporation wholly-owned and controlled by JMD Holding Family Trust, of which James McDonald is a beneficiary.|
|(3)||Registered to 3233031 Canada Inc., a corporation wholly owned and controlled by Daniel Robidoux.|
|(4)||Registered to Gestion Jean Asselin Inc., a corporation controlled by Jean Asselin.|
Urbanimmersive provides 3D sales & marketing solutions focused on the real estate market. Its patent pending emulator technology enables the cost effective production of 3D immersive environments from digital photographs or drawings. It allows multiple parties to meet online and interact together within a 3D immersive environment over the internet, using a computer, tablet and smart phone. Game mechanics integrated into the 3D environments increase conversion rates of anonymous visitors to profiled customers while providing a multi-feature focused marketing platform to advertisers. Advanced web-based analytic dashboards enable the viewing of a visitor's activities in real time, analysis of their behavior and a rapid online connection with prospects to engage in the sales process. In addition, Urbanimmersive addresses other market opportunities by licensing its full suite of AVU3DTM software to resellers and partners that are well established in sectors such as facility & asset management, training and serious games. Urbanimmersive is headquartered in Laval, Québec.
Caution Concerning Forward-Looking Statements
Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions. The results or events predicted in these forward-looking statements may differ materially from actual results or events. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. For additional information with respect to certain of these and other assumptions and risk factors, please refer to UI's management proxy circular dated February 29, 2012 and filed with the Canadian securities commissions. The forward-looking statements contained in this press release represent our expectations as of the date hereof. We disclaim any intention and assume no obligation to update or revise any forward-looking statements.
* * *
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 Inc.
For further information:
Ghislain Lemire, President and CEO at 514-394-7820 or [email protected]