OneMove Technologies Inc.
TSX VENTURE : OM

OneMove Technologies Inc.

January 10, 2011 09:00 ET

OneMove™ Announces Production Release of econveyance in Alberta With an Infusion of $318,000 of Working Capital

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 10, 2011) -  OneMove Technologies Inc. ("OneMove" or the "Company") (TSX VENTURE:OM), a provider of a leading web-based real estate transaction platform, today announced the production release of econveyance™ for the Alberta market. "We have received overwhelming positive feedback from the law firms that have participated in the beta testing," said Martin Johnson, President and CEO. "We are very excited about moving to full production status and are confident that the Alberta market will adopt the premium product and premium service that econveyance offers."

Alberta is recognized as the third largest market in Canada next to Ontario and British Columbia, processing approximately 80% of the transactional volume compared to the BC market. Membership growth continues and now exceeds 450 firms representing more than 2500 individual users in 75 cities and towns in Western Canada, clearly establishing econveyance as the largest and fastest growing conveyance network of its kind. 

In conjunction with the production release the Company has announced its winter referral campaign which encourages member firms to invite prospective firms to see a demonstration. "The campaign was launched on January 4, 2011 and we expect the new member firms in Alberta will share their econveyance experience with colleagues in the same way they have done in BC," adds Johnson. The winter referral campaign continues through March 31, 2011. Campaign details can be seen at www.econveyance.com.

The Company also announced today that shareholders have exercised 4,539,000 share purchase warrants at a price of $0.075 per share for total proceeds of $317,730. 

In December of 2009 the Company issued 8,081,000 units at a price of $0.05 per unit for total proceeds of $404,050 where each unit consisted of one common share and one common share purchase warrant, exercisable at a price of $0.075 per share for the first year and $0.10 for the two subsequent years. 4,539,000 of the share purchase warrants were exercised prior to the exercise price increasing from $0.075 to $0.10 providing the Company with an infusion of $317,730 of additional working capital. This leaves a total remaining of 3,542,000 warrants from the December private placement exercisable at $0.10 per share for the next two years.

The additional working capital will be used by the Company to accelerate the deployment of econveyance in Alberta and includes the addition of two sales representatives in conjunction with the announced production release and planned marketing initiatives.

About OneMove Technologies Inc.

OneMove Technologies Inc. (TSX VENTURE:OM) offers a leading real estate transaction platform. Through econveyance™, its proprietary web-based conveyancing software solution, OneMove™ simplifies and expedites the process of buying and selling real estate in Western Canada. Econveyance connects all participants in the property transfer process, offering a secure and efficient means of completing the transaction online. Additional information about OneMove can be found at www.onemovetech.com or www.sedar.com. Professional users site www.econveyance.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.

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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