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Urbanimmersive Acquires Real Estate Photography Agencies EGP Technovirtuel, La Clique Mobile and Graphique ID

SAINT-HUBERT, Quebec, June 30, 2021 (GLOBE NEWSWIRE) -- Urbanimmersive Inc. (“Urbanimmersive”, the “Company” or “UI”) (TSX VENTURE: UI) (OTCQB: UBMRF) is pleased to announce today having completed the acquisition of all of the outstanding shares of real estate photography agencies EGP Technovirtuel Inc. ("EGP") and Graphique ID Solutions Inc. ("Graphique ID") and all of the intangible assets of La Clique Mobile s.e.n.c. ("Clique Mobile") for an aggregated purchase price of $3.03M, including $1.77M payable in cash immediately, $100k payable in 100 days and $1.16M payable through the immediate issuance of 6.6M shares of the Company at a price of $0.175 per share. All shares issued are subject to a four-month-and-a-day hold period until October 31, 2021, with 5.7M of the shares issued subject to 18-months lock-up period until December 31, 2022. The acquisition of those three real estate photography businesses is a first step of the accelerated growth plan announced by the Company on June 22nd. Read More

from Financial Post https://ift.tt/3du78Bt
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