SAINT-HUBERT, QC, June 30, 2021 /PRNewswire/ – Urbanimmersive Inc. (“Urbanimmersive”, the “Organization” or “UI”) (TSXV: UI) (OTCQB: UBMRF) is happy to announce right now getting completed the acquisition of all of the outstanding shares of real estate images agencies EGP Technovirtuel Inc. (“EGP”) and Graphique ID Remedies Inc. (“Graphique ID”) and all of the intangible property of La Clique Mobile s.e.n.c. (“Clique Cellular”) for an aggregated buy value of $3.03M, such as $1.77M payable in money quickly, $100k payable in 100 times and $1.16M payable as a result of the rapid issuance of 6.6M shares of the Company at a price tag of $.175 for every share. All shares issued are topic to a 4-thirty day period-and-a-day hold interval until October 31, 2021, with 5.7M of the shares issued matter to 18-months lock-up time period until eventually December 31, 2022. The acquisition of individuals three actual estate pictures enterprises is a to start with step of the accelerated development prepare introduced by the Enterprise on June 22nd.
EGP, La Clique Cellular and Graphique ID are all Urbanimmersive customers with lengthy-standing firms and solid reputation in both household and business architectural photography expert services in their respective marketplace. These images organizations are profitable, have generated aggregated revenues of $1.6M for their last fiscal calendar year, during a historical small inventory period of homes for sale, and provide jointly a lot more than 5,000 authentic estate brokers throughout Canada.
With EGP acquisition, Urbanimmersive will also be introducing to its technological methods portfolio a DLSR digital camera HDR induce remote app made and owned by EGP. This propriety capture app permits the standardization of image-taking pictures procedures and picture good quality among significant teams of photographers. The application also connects to pictures Small business Option Software for authentic time and offline synchronizations of service orders and photographer schedules. EGP app will be made available underneath Urbanimmersive’s brand name and integrated to the Company’s business SaaS alternative and 3D tour Seize App generating it a single of the most entire genuine estate pictures capture cellular app on the current market. For clarity, EGP and UI blended capture app would allow photographers to shoot large excellent however photos utilizing a DSLR specialist digicam, develop 3D excursions applying 360 cameras, add visible written content on cloud while remaining ready to deal with orders and schedules on the discipline.
In addition to its prolonged images service company, EGP also offers through month-to-month subscriptions customized agent websites generating recurring revenues for which Urbanimmersive intends to integrate and expands with its Tourbuzz assets web page solution.
About the a long time, Graphic ID pictures support functions have slowly shifted from residential to industrial pictures services which will empower Urbanimmersive direct connections with commercial brokerage businesses where the Company’s 3D tour technology standout with its ground prepare significant house abilities. Graphic ID is a Urbanimmersive’s customer given that 2009. La Clique Mobile features quality images providers to a big network of actual estate customers and Urbanimmersive’ customer since 2016.
“Individuals 1st three real estate pictures agency acquisitions reveal our capacity to provide on our new accelerated progress program and bringing companies that are doing nicely even through low inventory of residences for sale. They are perfectly positioning us to attain worthwhile expansion and accelerate adoption of our 3D technological innovation SaaS alternatives. We are also buying gifted images organization owners and team that will right away empower our industry skills, item enhancement and shopper experience”, said Ghislain Lemire, President and CEO of Urbanimmersive.
TSX Undertaking Trade has not reviewed this press launch and has neither authorised nor disapproved the contents of this push release.
Urbanimmersive is a SaaS business enterprise management solution that supplies mission-crucial answers to visible material vendors serving the authentic estate household, professional, construction, and regional organization marketplaces. Urbanimmersive’ system can help clients to boost operational efficiency and providing the comprehensive probable of visible content material creations via primary-edge internet websites builder instrument, AI-backed image indexing, strong file transfer methods, and interactive visual technology alternatives. The firm’s core technologies is a 3D emulator powered by a visual content material recognition put up-creation algorithm that provides on the web and offline alternatives to conventional 3D engines for the creation of immersive electronic environments. Find out more at urbanimmersive.com.
Warning of Ahead-Wanting Statements
Specified statements in this news release, other than statements of historic point, are ahead-on the lookout information and facts that requires different challenges and uncertainties. Such statements relating to, amid other items, the prospects for the business to enrich operating effects, are essentially topic to challenges and uncertainties, some of which are considerable in scope and nature. These uncertainties may perhaps cause genuine effects to vary from info contained herein. There can be no assurance that this sort of statements will confirm to be exact. Precise outcomes and upcoming events could differ materially from those anticipated in such statements. These and all subsequent published and oral forward-seeking statements are primarily based on the estimates and views of the management on the dates they are designed and expressly qualified in their entirety by this discover. The Business assumes no obligation to update forward-seeking statements ought to situation or management estimates or opinions transform.
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