CALGARY, ALBERTA--(Marketwired - Dec. 21, 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 that they have converted their non-negotiable, convertible revolving note receivable into an equity stake of Remote Sales Force Inc.
The conversion of the note receivable results in the Company having a 33 1/3% ownership of Remote Sales Force Inc., a US based private company. Remote Sales Force Inc. is a software company devoted to changing the selling and buying process for the remodel industry in North America. "We are very excited to be a founding partner of this new company," says Doug Vickerson, CEO of Renoworks. "With our 16 years of experience providing high-quality visualization solutions to the building products industry, we are in a unique position to further influence how people buy remodel projects."
Renoworks Software Inc. develops and sells unique digital visualization software for the remodelling and new home construction industry, primarily in the United States and Canada. Delivered online, as a custom developed app or desktop software, Renoworks provides its technology to manufacturers, contractors, builders and retailers offering the solution to one of the home remodelling 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 (SDK). For more information, visit www.renoworks.com
About Remote Sales Force
Remote Sales Force Inc. develops and sells software for the remodelling industry in the United States and Canada. Remote Sales Force is a software-as-a-service provider devoted to building solutions that will change the way remodel projects are bought and sold.
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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.