VANCOUVER, April 12 /CNW/ - OneMove Technologies Inc. ("OneMove" or the "Company") (TSX.V: OM) is pleased to announce that it has closed its previously announced $500,000 bridge financing with GC-Global Capital Corp. The Company intends to repay the bridge loan from the proceeds of the Company's previously announced brokered private placement with Cormark Securities Inc. (formerly Sprott Securities Inc.) (the "Private Placement").
The bridge loan bears interest at 12% per year, calculated and payable monthly and is secured by a general security agreement over all present and future movable property of the Company and OneMove Online Systems Inc. (the Company's wholly-owned subsidiary), a share pledge of 100% of the shares of OneMove Online Systems Inc., and a personal guarantee from Mr. Martin Johnson, the Company's President and CEO. The loan is repayable at the earlier of October 4, 2007, and the closing of the Private Placement. In consideration for providing the guarantee, the Company issued Mr. Johnson 125,000 common shares at a deemed price of $0.40 per share. The Company has also engaged GC-Global Capital Corp. for one month to provide financial advisory services in consideration for 125,000 common shares of the Company.
About OneMove www.onemovetech.com
OneMove is a one-stop shop designed to simplify moving, from a paperwork and legal red tape standpoint. It currently operates in the British Columbia and U.K. markets. OneMove facilitates efficient communication between parties such as lawyers, conveyancers, realtors and buyers and sellers. OneMove's U.K. operation also offers a one-stop online shop for home buyers to access real estate listings, its unique insurance product, and its association of realtors and solicitors (www.onemove.com).
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