iLOOKABOUT Corp.
TSX VENTURE : ILA

iLOOKABOUT Corp.

May 26, 2011 10:34 ET

iLOOKABOUT Corp. Announces Results of the Annual and Special Meeting of Shareholders

LONDON, ONTARIO--(Marketwire - May 26, 2011) - iLOOKABOUT Corp. (TSX VENTURE:ILA) (the "Company") is pleased to announce the results of the Annual and Special Meeting (the "Meeting") of shareholders held in London, Ontario on May 25, 2011. The shareholders approved all motions put forth at the meeting, including the re-appointment of KPMG LLP as the Company's auditor and the approval of the Company's amended Stock Option Plan in accordance with TSX Venture Exchange requirements. The proposed slate of nominee directors was comprised of Mr. Jeff Hack, Mr. John Kennedy and Mr. Jeff Young, each for a period of approximately three years, and was also approved.

At their meeting held following the Annual and Special Meeting, the newly constituted Board appointed Mr. Geoff Davies as Chairman of the Board. Mr. John C. Drake, previous Chairman, welcomed Mr. Davies to his new position, and went on to confirm his previously expressed sentiments that the Company is at a stage that will benefit from the extensive experience of Mr. Davies, as a previous Chief Executive Officer of a publicly listed company. The appointment of an independent director to this position is also consistent with the Company's objectives to improve its structure with respect to Corporate best practices related to Governance. Mr. Drake noted that he looks forward to continuing to serve actively on the Board of iLOOKABOUT.

As previously announced, effective at the close of the Meeting, Mr. Alfred A. Jay resigned as a Director of the Company. Mr. Jay decided not to seek re-election due to other commitments. Members of Management and the Board expressed a sincere appreciation to Mr. Jay for his extensive commitment and contributions to iLOOKABOUT over the past ten years.

About iLOOKABOUT

iLOOKABOUT is a visual and data intelligence company serving commercial enterprise in the real estate, insurance, municipal, utility, assessment and appraisal sectors in North America and Europe. iLOOKABOUT is a pioneer in visual and data intelligence with its StreetScape and Virtual Tour products. StreetScape is a visual and data intelligence product for the geo-spatial market, providing panoramic, comprehensive, street level perspective visual data, geo-coded with latitude and longitude coordinates for accuracy and supported by patented software processes and proprietary security and storage systems. Recently, the Company launched GeoViewPort™, a web-based Geographic Information System (GIS) application that enables the federation of additional value added data such as validated addresses, aerial imagery, property values, property attributes, etc. with iLOOKABOUT StreetScape™ imagery. Headquartered in London, Ontario, Canada, iLOOKABOUT's shares are traded on the TSX Venture Exchange under the symbol ILA.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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