VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/17/13 -- OneMove Technologies Inc. ("OneMove" or the "Corporation") (TSX VENTURE: OM) is pleased to announce that, at a special meeting of shareholders held today, the shareholders of OneMove approved the amalgamation (the "Amalgamation") of OneMove and 0955662 B.C. Ltd. ("0955662"), a corporation owned by Plantro Ltd. and Seastone Investments Limited. The Amalgamation constitutes the second stage transaction of the offer dated January 17, 2013 of 0955662 for all of the issued and outstanding common shares of OneMove.
At the meeting, approximately 99.9% of all shareholders present in person or represented by proxy and entitled to vote at the meeting voted in favour of the resolution approving the Amalgamation. In addition 99.8% of the shareholders present in person or represented by proxy and entitled to vote at the meeting, excluding votes that were required to be excluded for purposes of the minority approval requirements under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions, voted in favour of the resolution approving the Amalgamation.
The Amalgamation will be effected pursuant to the amalgamation agreement dated April 19, 2013 between OneMove and 0955662. Pursuant to the Amalgamation, each outstanding common share of OneMove, other than shares owned by the offering parties, will be exchanged for one redeemable preferred share of the amalgamated company, which will be immediately redeemed at a redemption price of $0.425 in cash per share. The parties expect that the Amalgamation will be completed next week following the filing of an amalgamation application with the Registrar of Companies in British Columbia, and that Computershare Investor Services Inc. ("Computershare"), the depositary for the Amalgamation, will mail cheques in respect of the redemption price to shareholders of OneMove that have delivered a letter of transmittal together with the certificates representing their OneMove common shares.
Further details regarding the Amalgamation may be found in the management information circular mailed to shareholders of OneMove dated April 19, 2013. In addition, the meeting materials are available on OneMove's profile on the SEDAR website at www.sedar.com and contain instructions for shareholders to receive the consideration payable to them in connection with the Amalgamation.
Shareholders who have not already completed and delivered a letter of transmittal to Computershare are encouraged to do so as soon as possible so that they can receive a cheque representing the consideration to which they are entitled pursuant to the Amalgamation.
About OneMove Technologies Inc.
OneMove Technologies Inc. (TSX VENTURE: OM) is a provider of web-based real estate transaction platforms. Through econveyance, its proprietary web-based conveyancing software solution, OneMove simplifies and expedites the process of buying and selling real estate. Econveyance connects all participants in the property transfer process, offering a secure and efficient means of completing the transaction online. For additional information, please visit OneMove's website at www.onemovetech.com.
Forward Looking Statements
This press release contains certain forward looking statements within the meaning of applicable securities laws. These statements include, but are not limited to, the proposal to complete the amalgamation with 0955662. Such statements and information include statements regarding the expectation and beliefs of management and appear in a number of places and often can be identified by the use of words such as "plans", "expects", "is expected", "intends", "forecasts", "anticipates" or "believes" or variations of such words and phrases. A number of factors could cause actual events or results to differ materially from the results discussed in the forward looking statements. Although it is believed that the forward looking statements contained in this press release are based upon reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward looking statements.
These forward looking statements are made as of the date of this press release, and OneMove assumes no obligation to update or revise them to reflect new events or circumstances, except as required pursuant to applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
OneMove Technologies Inc.
Chief Executive Officer
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