LAVAL, Québec, Dec. 21, 2017 (GLOBE NEWSWIRE/KOREA IT TIMES) -- Urbanimmersive Inc. (“Urbanimmersive,” or the “Corporation”) (TSX VENTURE:UI.V), the real estate content marketing platform, is pleased to announce the closing of its previously announced public offering of units (the “Units”). Urbanimmersive issued a total of 10,000,000 Units at a price of $0.125 per Unit (the “Offering Price”) for gross proceeds of $1,250,000. The Offering was oversubscribed.  Each Unit will consist of one common share of the Corporation (a “Common Share”) and one Common Share purchase warrant (“Warrant”), with each Warrant being exercisable into a Common Share (a “Warrant Share”) at an exercise price of $0.25 per Warrant Share until December 20, 2019.

Leede Jones Gable Inc. (the "Agent") acted as exclusive agent in connection with the Offering pursuant to the terms of an agency agreement between the Corporation and the Agent dated December 5, 2017.

In consideration for the services rendered by the Agent in connection with the Offering, the Agent received a cash commission in an aggregate amount of $100,000, corresponding to 8% of the gross proceeds of the Offering. The Agent also received non-transferable options (the “Agent Options”) to purchase, in the aggregate, up to 800,000 Units, corresponding to 8% of the Units issued under the Offering. Each Agent Option entitles the Agent to acquire one Unit at the Offering Price until December 20, 2019.

There may be additional purchases under the Offering, as the Corporation has granted the Agent an over-allotment option exercisable within 30 days of closing of the Offering, in whole or in part at the sole discretion of the Agent, to purchase an additional number of Units equal to up to 15% of the Units sold under the Offering at the Offering Price.

Urbanimmersive intends to use the net proceeds from the Offering for, among other things, marketing initiatives, the maintenance of the core platform of the Corporation and the development of new front-end features.

The securities mentioned herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

This press release does not constitute an offer to sell or a solicitation of any offer to buy the securities in the United States, in any province or territory of Canada or in any other jurisdiction. There shall be no sale of the securities in any jurisdiction in which an offer to sell, a solicitation of an offer to buy or sale would be unlawful.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

About Urbanimmersive

Urbanimmersive is a content marketing platform for real estate professionals. The Corporation connects real estate professionals, photographers and writers in order to simplify and optimize original content production workflow. Urbanimmersive enables its customers to leverage their marketing investment while increasing productivity, competitiveness, their web visibility, consumer engagement with their brand and ultimately, their revenue.

For more information:

Urbanimmersive Inc.
Ghislain Lemire
President & CEO
514-394-7820 X 202
ghislainlemire@urbanimmersive.com
www.urbanimmersive.com