InvestmentPitch Media Video Discusses Urbanimmersive’s

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VANCOUVER, British Columbia, Oct. 12, 2022 (GLOBE NEWSWIRE) — Urbanimmersive Inc. (TSXV:UI) (OTCQB:UBMRF) has signed a ultimate buy settlement for the acquisition of all of the pursuits of the true property images company, HomeVisit, LLC from CoreLogic Solutions, LLC. HomeVisit, based mostly in Chantilly, Virginia, is a number one supplier of visible content material advertising and marketing actual property options, together with property itemizing images, videography, 3D excursions, drone imagery, printing companies and different associated companies.

A Media Snippet accompanying this announcement is accessible by clicking on the picture or hyperlink beneath:

For extra data, please view the InvestmentPitch Media video which gives further details about this information and the corporate, together with video feedback from Ghislain Lemire, Urbanimmersive’s President & CEO. The video is accessible for viewing on “InvestmentPitch.com” and on “YouTube”. If these hyperlinks will not be enabled, please go to www.InvestmentPitch.com and enter “Urbanimmersive” within the search field.

HomeVisit generated unaudited revenues of US$7.83 million or roughly CAD$9.8 million, for the fiscal yr ended December 31, 2021, with belongings of US$2.0 million and liabilities of US$1.7 million.

The whole buy value of CAD$9 million might be partially paid by the issuance of the corporate’s widespread shares equal to 19.9% of the shares excellent on a non-diluted foundation at closing, based mostly on the quantity weighted common closing value, much less any relevant low cost as allowed by the TSX Venture Exchange. The steadiness of the acquisition value might be settled by the issuance of a 5-year Secured Promissory Note, bearing curiosity at 7.50% each year, which might be capitalized and added to the word, each of which might be paid in money, both partly or in full, previous to maturity.

In addition, at closing, Urbanimmersive will obtain $1.2 million US {dollars} in working capital from HomeVisit.

Devi Mateti, Managing Director at CoreLogic, acknowledged: “I am very pleased, along with our HomeVisit and CoreLogic teams, to partner with Urbanimmersive Group. For us, Urbanimmersive has clearly demonstrated to have robust business solutions to successfully integrate HomeVisit, add value to our mutual customers buying experience while bringing state-of-the-art 3D and floor plan solutions. We could not have found better hands to take care of our HomeVisit’s customers.”

This acquisition will certainly complement Urbanimmersive’s all-in-one platform which enables high-volume photography businesses to increase operational productivity by delivering feature-rich 3D tours and floor plans, leading-edge property websites and high-resolution AI-indexed images.

The company’s operating segments include software as a service (SaaS), 360 camera hardware and, in a growing number of North American cities, technology-powered real estate photography service business units.

Like all previous acquisitions, the HomeVisit brand will remain in the forefront to customers. All day-to-day operations of HomeVisit will be integrated on Urbanimmersive’s Photography Enterprise Resource Planning application in the upcoming months, and upon completion, HomeVisit’s customers will benefit from its online ordering system offering Guaranteed Hours Booking experience, easy-to-order 3D marketing packages and UiMeet3D video conferencing.

The shares are trading at $0.39.

For more information, please visit www.urbanimmersive.com, contact Ghislain Lemire, President & CEO, at 514-394-7820 ext 202 or email [email protected], or contact Simon Bédard, CFO, at 514-394-7820 ext 224 or email [email protected].

Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Urbanimmersive has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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