InvestmentPitch Media video describes Urbanimmersive’s purchase agreement to acquire an interest in Real Estate Photography Agency, HomeVisit, LLC from Canadian Business Journal’s CoreLogic Solutions, LLC.

VANCOUVER, British Columbia, Oct. 12, 2022 (GLOBE NEWSWIRE) — Urbanimmersive Inc. (TSXV:UI) (OTCQB:UBMRF) has entered into a final purchase agreement to acquire a full interest in HomeVisit, a real estate photography agency. signed. His LLC of CoreLogic Solutions, LLC. Based in Chantilly, Virginia, HomeVisit is a leading provider of visual content marketing real estate solutions including property listing photography, videography, 3D tours, drone images, printing services, and other related services.

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For more information, see our InvestmentPitch Media video providing additional information about this news and the company, along with video commentary from Urbanimmersive President and CEO Ghislain Lemire. You can watch the video at “”.Investment Pitch.com“When”Youtube”. If these links are not enabled, please visit the following URLs: www.InvestmentPitch.com Type “urban immersive” in the search box.

HomeVisit generated unaudited revenue of US$7.83 million or approximately C$9.8 million for the fiscal year ended December 31, 2021, with assets of US$2 million and liabilities of US$1.7 million.

Total purchase price of C$9 million based on volume weighted average closing price, net of applicable discounts, on a non-diluted basis representing 19.9% ​​of shares outstanding at closing Issuance of common stock of the Company partially paid through Permitted on the TSX Venture Exchange. The balance of the purchase price will be settled by issuing a 5-year secured promissory note at an annual interest rate of 7.50%. This note is capitalized and added to the note. Both can be paid in cash. Or completely before maturity.

Additionally, at closing, Urbanimmersive will receive $1.2 million in working capital from HomeVisit.

Devi Mateti, Managing Director of CoreLogic, said:Together with the HomeVisit and CoreLogic teams, we are very pleased to partner with Urbanimmersive Group. For us, Urbanimmersive has made it clear that we have a robust business solution to successfully integrate HomeVisit and provide cutting-edge 3D and floor plan solutions while adding value to our mutual customer’s buying experience. is shown. We couldn’t find better people to look after HomeVisit customers. ”

Acquisition enables high-volume photography businesses to improve operational productivity by offering feature-rich 3D tours and floor plans, state-of-the-art real estate websites, and high-resolution AI-indexed imagery A perfect complement to Urbanimmersive’s all-in-one platform.

The company’s business segments include software as a service (SaaS), 360 camera hardware, and a technology-enabled real estate photography services business unit in a growing number of North American cities.

As with all previous acquisitions, the HomeVisit brand will continue to be at the forefront for customers. All of HomeVisit’s day-to-day operations will be integrated into Urbanimmersive’s photo enterprise resource planning application in the coming months. Once complete, HomeVisit customers will benefit from an online ordering system that offers a guaranteed time booking experience, easy-to-order 3D marketing. Package and his UiMeet3D video conferencing.

The stock is trading at $0.39.

For more information, please visit www.urbanimmersive.com, contact President and CEO Ghislain Lemire at 514-394-7820 extension 202, or email us. [email protected]or contact CFO Simon Bédard at 514-394-7820 ext. 224 or by email. [email protected]

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