RenoWorks Software Inc.
TSX VENTURE : RW
OTC PINK : RWOKF

RenoWorks Software Inc.

November 03, 2016 08:30 ET

Renoworks Announces New Enterprise Technology and Exercising of Options

Renoworks expands product repertoire to provide iOS and Android solutions for new and existing clients

CALGARY, ALBERTA--(Marketwired - Nov. 3, 2016) - Renoworks Software Inc. (TSX VENTURE:RW)(OTC PINK:RWOKF)("Renoworks" or the "Company"), the leading visualizer for the home remodeling and construction industry, is pleased to announce a partnership with ODL in the building product industry to satisfy visualization needs while improving technological offerings.

Renoworks has engaged with an existing client, ODL, to create a visualization solution that mimics the brand's online experience in iOS and Android environments. ODL, a leading door glass company headquartered in Michigan, is the first to partner with Renoworks to use this new technology. Subsequently, the online, iPad, and Android applications are connected via Renoworks Project Sync. ODL was also the first company to take advantage of this Renoworks cloud service.

"We enjoy a strong partnership with ODL and take pride in the value ODL has seen from our affordable products and services," stated Doug Vickerson, CEO of Renoworks. "Our visualizer solutions remove hurdles, helping any business in the new home construction and remodeling industry to sell more and sell quickly. This is another step forward in our strategy to expand our technological offerings to our valued customers and grow with minimal capital investment and risk," Mr. Vickerson added.

The Company further announces that pursuant to the Company's Stock Option Plan it has granted options to acquire an aggregate of 1,355,000 common shares at an exercise price of $0.30 per share to employees and officers of the Company. These options expire October 25, 2021 and are governed by the company's Stock Option Plan. Grant of the options is subject to the approval of the TSX Venture Exchange.

A number of Renoworks employees and directors exercised their stock options. A total of 885,000 options have been exercised for proceeds totalling $85,500 CAD.

Mr. Vickerson commented, "This options exercise shows the high degree of confidence that employees and directors have in the direction taken by the Company and its future growth."

About Renoworks

Renoworks Software Inc. develops and sells unique digital visualization software for the remodeling and new home construction industry. Delivered online and through mobile apps, Renoworks provides technology to manufacturers, contractors, remodelers builders and retailers offering the solution to one of the home remodeling industry's greatest challenges: enabling customers to see how their product choices will look in a realistic, virtual environment - even in their own home - before they make a purchase decision. Renoworks markets its software as a cost-effective lead generation tool and generates revenues from three main business lines: Enterprise, Renoworks PRO™, and its Software Development Kit, Renoworks SDK™. For more information, visit www.renoworks.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain statements in this news release, other than statements of historical fact, are forward looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

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