OneMove Technologies Inc.

TSX VENTURE : OM


OneMove Technologies Inc.

February 27, 2013 08:00 ET

OneMove Technologies Update on Takeover Bid and Board Changes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 27, 2013) - OneMove Technologies Inc. ("OneMove" or the "Company") (TSX VENTURE:OM) announces that, further to the announcement by 0955662 B.C. Ltd. (the "Offeror") that the Offeror, which is controlled indirectly by Matthew Proud and Tyler Proud, has taken up all common shares of OneMove that were deposited to the Offeror's take-over bid to purchase all common shares of OneMove for $0.425 per share (the "Offer"), the following transitional changes have been effected:

  • The Special Committee of the Board of Directors of OneMove that was established in response to the Offer has been wound up.
  • Lorie Waisberg has resigned as a director of OneMove.
  • Matthew Proud and Tyler Proud have been appointed as directors of OneMove.

The Board of Directors of OneMove thanks Lorie Waisberg for his contributions as an independent director and his efforts as Chair of the Special Committee.

The Offeror has extended the expiry of the Offer to 5:00 p.m. (Eastern time) on March 8, 2013 in order to permit shareholders who have not yet tendered their OneMove shares an opportunity to do so. It continues to be the Board of Directors' recommendation that OneMove shareholders accept the Offer and tender their shares to the 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.

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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