- Company Adds 34 Legal and Notary Firms to Econveyance(TM) Platform -
VANCOUVER, Jan. 21 /CNW/ - OneMove Technologies Inc. ("OneMove" or the "Company") (TSX-V: OM), a leading web-based real estate transaction platform, announced today that during the three-month period ended December 31, 2008, the Company added 34 British Columbia-based legal and notary firms to its econveyance platform. OneMove now serves a total of 301 law and notary firms, up 50% compared to December 31, 2007.
"A key focus for fiscal 2009 is expanding our user base," said Martin Johnson, President and CEO, OneMove. "With the addition of these new firms, we now have approximately 1,300 lawyers and notaries processing transactions through our econveyance platform, up from 524 a year ago. As a result, we are poised to realize continued revenue growth, even in the face of a slower real estate market."
OneMove also announced that it recovered a (pnds stlg)54,638 (approximately CDN$96,300) security deposit that the Company provided on behalf of its former U.K. subsidiary to secure an equipment lease. OneMove's divestiture of its U.K. subsidiary, coupled with the termination of the lease agreement led to the return of the funds.
"This further strengthens our cash position and, in turn, provides us with additional financial resources to support our growth," Mr. Johnson added.
About OneMove Technologies Inc.
OneMove Technologies Inc. (TSX-V: OM) is a 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 Statements
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.
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
%SEDAR: 00023118E