VANCOUVER, May 9 /CNW/ - OneMove Technologies Inc. ("OneMove" or the "Company") (TSX-V: OM), which offers a leading web-based real estate transaction platform, today announced organizational changes intended to reduce its cost structure. The Company expects these changes to generate annualized savings of $325,000, approximately 10% of its annual operating costs.
"Having completed a thorough review of the business, we determined it prudent to reduce costs in certain areas," said Martin Johnson, President and CEO, OneMove. "We believe, with these changes, we remain well placed to successfully execute on our growth strategy and are now better positioned on a path toward profitability."
OneMove has reduced headcount among its administrative staff and made changes to its management team. Among these changes, Darren Battersby, Chief Financial Officer, has left the Company. Until such time that a successor is named, Mr. Battersby's current responsibilities will be handled by the Company's Controller.
Mr. Johnson added: "I would like to thank Darren for his efforts. He has been a valued member of our team, and we wish him the best of luck with his future endeavors."
About OneMove Technologies Inc.
OneMove Technologies Inc. (TSX-V: OM) offers a leading real estate transaction platform. Through econveyance(TM), a leading edge web-based conveyancing software solution, OneMove(TM) simplifies and expedites the process of buying and selling real estate in British Columbia, Canada. econveyance links all participants in the property transfer process, offering a secure and efficient means of seamlessly completing and monitoring the transaction online. Additional information about OneMove can be found at www.onemovetech.com or www.sedar.com.
Forward Looking Statement
This press release contains certain "forward looking statements." These statements relate to future events or future performance and reflect expectations and belief regarding growth, results of operations, performance, business prospects, opportunities or industry performance and trends. These forward looking statements reflect current internal projections, expectations or beliefs and are based on information currently available. A number of factors could cause actual events or results to differ materially from the results discussed in the forward looking statements. Although it is believed that the forward looking statements contained in this press release are based upon reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward looking statements. These forward looking statements are made as of the date of this press release, and OneMove Technologies Inc. assumes no obligation to update or revise them to reflect new events or circumstances, except as required pursuant to applicable securities laws.
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