Business
OneMove(TM) Completes Sale of its U.K. Subsidiary
VANCOUVER, March 7 /CNW/ - OneMove Technologies Inc. ("OneMove" or the "Company") (TSX-V: OM), a ...
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[{"type":"text","content":"\n\n\n\nVANCOUVER, March 7 /CNW/ - OneMove Technologies Inc. ("OneMove" or the\n"Company") (TSX-V: OM), a leading web-based real estate transaction platform,\ntoday announced that it has completed the previously announced sale of its\nU.K. subsidiary, OneMove Limited, to Neil Patel, CEO, OneMove Limited.\n\n\nAs per the terms of the agreement, Mr. Patel has returned to treasury the\n5.6 million OneMove shares that were issued to him as consideration for the\noriginal purchase of OneMove Limited. OneMove Limited has also issued a\ndebenture to OneMove for approximately (pnds stlg)1.2 million, to be paid out\nover a term of 10 years. OneMove has renounced ownership of OneMove Limited,\nreturning all shares held, and has provided (pnds stlg)175,000 in funding, 50%\nof which OneMove Limited will repay by way of the debenture. In addition, the\nrepresentatives for each company have stepped down from the other company's\nBoard of Directors; Neil Patel will no longer serve as a Director for OneMove.\n\n\nIn conjunction with the completion of the sale, OneMove and\nOneMove Limited have entered into a brand sharing and software license\nagreement. Under the terms of the software license agreement, OneMove Limited\nwill continue to use OneMove's proprietary Move Management System (MMS)\nweb-based platform for a monthly royalty fee.\n\n\nAbout OneMove Technologies Inc.\n\n\nOneMove Technologies Inc. (TSX-V: OM) is a real estate transaction\nplatform. Through econveyance(TM), a leading edge web-based conveyancing\nsoftware solution, OneMove(TM) simplifies and expedites the process of buying\nand selling real estate in British Columbia, Canada. econveyance links all\nparticipants in the property transfer process, offering a secure and efficient\nmeans of seamlessly completing and monitoring the transaction online.\nAdditional information about OneMove can be found at www.onemovetech.com or\nwww.sedar.com.\n\n\nForward-Looking Statements\n\n\nThis press release contains certain "forward-looking statements." These\nstatements relate to future events or future performance and reflect\nexpectations and belief regarding growth, results of operations, performance,\nbusiness prospects, opportunities or industry performance and trends. These\nforward-looking statements reflect current internal projections, expectations\...