OneMove Technologies Inc.

TSX VENTURE : OM


OneMove Technologies Inc.

February 20, 2013 08:46 ET

OneMove Technologies Notice of Competing Takeover Bid Offer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 20, 2013) - OneMove Technologies Inc. ("OneMove" or the "Company") (TSX VENTURE:OM), the provider of the leading web-based real estate transaction platform and the creator of the largest and fastest growing online community of conveyancing professionals, wishes to inform its shareholders that the Special Committee has taken notice of a press release issued yesterday by 0962675 BC Ltd., a company reportedly wholly owned by Raymond Szeto (the "Competing Offeror"), announcing its intention to present a take-over offer to OneMove of $0.50 per OneMove share to the shareholders of OneMove (the "Competing Offer"). The OneMove shares are currently the subject of a take-over bid offer (the "Plantro Offer") of $0.425 per OneMove share by 0955662 B.C. Ltd., a wholly-owned subsidiary of Plantro Ltd., which is controlled by Matthew Proud.

The Competing Offer is subject to a number of stated conditions. It is the current view of the Special Committee of OneMove that various conditions of the Competing Offer cannot be met and, as such, the Competing Offer is not capable of being completed. OneMove has not yet received any formal proposal from the Competing Offeror nor evidence of the bidder's ability to finance the Competing Offer. OneMove's Special Committee remains available for any further discussion.

The Special Committee wishes to remind shareholders of OneMove that the deadline for the Plantro Offer is tomorrow February 21, 2013 at 11:59 p.m. (PST). Based on information currently available to OneMove, the press release issued by the Competing Offeror and the Competing Offer do not change the recommendation of the Special Committee to OneMove shareholders to accept the Plantro Offer and tender their shares to the Plantro Offer and shareholders are advised to do so before the indicated deadline for the Plantro Offer.

About OneMove Technologies Inc.

OneMove Technologies Inc. (TSX VENTURE:OM) is the leading provider of web-based real estate transaction platforms and the creator of the largest and fastest growing online community of conveyancing professionals. Through econveyance™, its proprietary web-based conveyancing software solution, OneMove™ simplifies and expedites the process of buying and selling real estate. 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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