LAVAL, Québec, July 16, 2018 (GLOBE NEWSWIRE) — Urbanimmersive Inc. (“Urbanimmersive” or the “Corporation”) (TSX VENTURE:UI.V) (OTC PINK:UBMRF), the absolute acreage agreeable business platform, is admiring to advertise that it has entered into a absolute acquirement acceding on July 13, 2018, in affiliation with the ahead appear accretion (the “Acquisition”) of Tourbuzz, LLC (“Tourbuzz”), and that it completed its annular of costs for the clandestine adjustment of anchored adaptable convertible debentures, warrants and units (the “Private Placement”) which will be acclimated to pay a allocation of the banknote basic of the acquirement amount for the Acquisition. The absolute allocation of the banknote basic of the acquirement amount for the Accretion will be adjourned by a chief anchored debt (the “Senior Anchored Financing”).
Urbanimmersive will now assignment on closing the Clandestine Adjustment and the Chief Anchored Costs and putting in abode all appropriate aegis abstracts and registrations, which will crave some processing time.
“The achievement of the annular of costs for the Clandestine Adjustment and the signature of the absolute acquirement acceding for the Accretion represent a cogent anniversary for Urbanimmersive as we can now alpha planning the affiliation of Tourbuzz to our operations,” said the Corporation’s Chief Executive Officer, Ghislain Lemire. “Combined with our able division over division amoebic advance and our announcement of compassionate advancing altercation with one of the bigger absolute acreage portals in North America, I accept that Urbanimmersive has never been, afterwards 10 years of existence, in a bigger position for growth. I can alone be aflame to anticipate about what the approaching holds for Urbanimmersive,” assured M. Lemire.
“After bootstrapping Tourbuzz into the arch absolute acreage photography belvedere in the US & Canada, we began attractive for means to advantage our administration position to accompany alike added amount to our customers. By accumulation armament with Urbanimmersive, we accretion not alone a broader artefact portfolio but additionally admission to the basic appropriate to advance new products. The absolute Tourbuzz aggregation is aflame about the befalling to actualize added amount for our accumulated customers,” declared Alan Pinstein, Tourbuzz’s Chief Executive Officer.
The Acquisition, which is still accountable to accepted closing altitude and the cancellation of appropriate authoritative approvals (including banal exchange), is accepted to be completed in August 2018.
The TSX Venture Barter has not advised this columnist absolution and has neither accustomed nor banned the capacity of this columnist release.
Established in 2008 and based in Atlanta, Georgia, USA, TourBuzz, LLC. (www.tourbuzz.net) is the arch absolute acreage photography software solution. Tourbuzz solutions are acclimated by added than 1500 columnist businesses beyond the United States and Canada, as able-bodied as in Great Britain and Australia, assuming about 250,000 (pay per transaction) photo shoots annually. Tourbuzz’s photographers accept uploaded to date added than 32 million photos including videos and panoramas.
Urbanimmersive is a agreeable business belvedere for absolute acreage professionals. The Corporation connects absolute acreage professionals, photographers and writers in adjustment to abridge and optimize aboriginal agreeable assembly workflow. Urbanimmersive enables its barter to advantage their business advance while accretion productivity, competitiveness, their web visibility, customer affirmation with their cast and ultimately, their revenue.
Caution of Forward-Looking Statements
Certain statements in this account release, added than statements of absolute fact, are advanced advice that involves assorted risks and uncertainties. Such statements apropos to, amid added things, achievement and accepted timing of the Acquisition, the Clandestine Adjustment and the Chief Anchored Financing; whether the Acquisition, the Clandestine Adjustment and the Chief Anchored Costs will be successful; the cancellation of appropriate authoritative approvals (including banal exchange) in account of the Acquisition; are necessarily accountable to risks and uncertainties, some of which are cogent in ambit and nature. These uncertainties may account absolute after-effects to alter from advice independent herein. There can be no affirmation that such statements will prove to be accurate. Absolute after-effects and approaching contest could alter materially from those advancing in such statements. These and all consecutive accounting and articulate advanced statements are based on the estimates and opinions of the administration on the dates they are fabricated and especially able in their absoluteness by this notice. The Corporation assumes no obligation to amend advanced statements should affairs or administration estimates or opinions change. For added advice with account to assertive of these and added assumptions and accident factors, amuse accredit to the aftermost Corporation’s MD&A filed with the Canadian balance commissions. The advanced statements independent in this columnist absolution represent our expectations as of the date hereof. We abandon any ambition and accept no obligation to amend or alter any advanced statements.
For added information:
Urbanimmersive Inc.Ghislain LemirePresident & CEO514-394-7820 X firstname.lastname@example.org
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