Business
OneMove Technologies Inc. agrees to acquire the remaining 27.5% interest of OneMove Limited in the United Kingdom
OneMove Technologies Inc. agrees to acquire the remaining 27.5% interest of OneMove Limited in the United Kingdom.
About this update from Osisko Metals Incorporated
[{"type":"text","content":"\n\n\n\nVANCOUVER, Feb. 28 /CNW/ - OneMove Technologies Inc. ("OneMove" or the\n"Company") (TSX.V:OM) is pleased to announce that it has completed a share\nexchange agreement with One Move Limited ("OneMove UK") founder and owner Neil\nPatel, to acquire the remaining 27.5% interest of OneMove UK.\n\n\nThe acquisition of the additional 27.5% will make OneMove UK a wholly\nowned subsidiary of the Company.\n\n\nIn exchange for the remaining 27.5% of OneMove UK, the Company will issue\nMr. Neil Patel, approximately 15% of the common shares outstanding in the\nCompany contingent upon the completion of the previously announced private\nplacement by Sprott Securities Inc.\n\n\nOne-third of the common shares to be issued to Mr. Neil Patel are\ncontingent on OneMove UK generating positive cash flow on or before\nSeptember 30, 2007.\n\n\nContingent on meeting a set projected pre-tax income for Fiscal 2008 and\n2009, the Company will grant share purchase options to Mr. Neil Patel at the\noffering price in the amounts of 500,000 and 750,000 respectively.\n\n\nThe Common Shares to be issued to Mr. Patel will be subject to the\nprovisions of Policy 5.4 of the TSX Venture Exchange entitled "Escrow, Vendor\nConsideration and Resale Restrictions";\n\n\n"We are pleased to have 100% of OneMove UK operating as a part of OneMove\nTechnologies," stated Martin Johnson, President and CEO of OneMove. "Now we\ncan move forward united as one strong business with certainty of ownership in\nmeeting our targets to produce positive results in the near future."\n\n\n"I am proud to be a shareholder of OneMove Technologies," stated Neil\nPatel, President and CEO of One Move Limited (UK) "we are now operating\ncompletely as one unit, the benefits of which will be evident to shareholders\nvery soon."\n\n\nAbout OneMove Technologies. www.onemovetech.com\n\n\nOneMove began life by creating a sophisticated software program that\nbrought innovative advantages for all involved in British Columbia's real\nestate market, a Canadian province where real estate transactions were already\nnear perfect. OneMove then jumped into the British market offering a one-stop\nshop designed to simplify all aspects of moving. It currently operates in the\nBritish Columbia and U.K. markets. OneMove facilitate...