OneMove Technologies in Negotiations with Estate Angels and Mortgage Angels in the United Kingdom26 December 2006
OneMove Technologies Inc. ("OneMove") (TSX.V: OM), is pleased to announce it has entered into discussions with Estate Angels Ltd. and Starz Co UK Ltd. (trading as Mortgage Angels) to negotiate a merger. The parties entered a Non-Disclosure Agreement on December 12, 2006 that allows 120 days for each party to perform its due diligence and OneMove to negotiate terms of an acquisition. The parties want to forge a mutually beneficial relationship to strengthen their positions in the real estate markets of England and Wales. Estate Angels possesses one of the larger web sites (www.estateangels.co.uk) in the UK that is dedicated to assisting consumers in obtaining free quotes for services required in the buying and selling of a home. Estate Angles is also affiliated with Mortgage Angels, which provides mortgage brokering services to consumers. Approximately 17,000 estate agents are registered with Estate Angels. Mortgage Angels has grown rapidly and is now one of the top three Internet-based mortgage lead sites in the country. OneMove wants to further accelerate its goal of becoming the leading on-line provider of home moving services in England and Wales. OneMove offers a complete array of services to give buyers and sellers stress-free real estate transactions. It also offers transparency on an easy-to-use software system for the mortgage lenders, lawyers and realtors involved in every sale. About Estate Angels www.estateangels.co.uk The Estate Angels' service is free to consumers and matches prospective residential property buyers, sellers, renters and landlords with real estate agents. Revenue is generated from advertising and selling leads for mortgages, conveyancing, surveys and movers. Estate Angels also provide a number of value-added services to prospective home buyers, including advice on buying a property and information regarding prices and trends. With a database of over 450,000 clients, Estate Angels has developed the 'Move Angel'(TM) concept whereby users receive regular, up-to-date advice which helps home buyers throughout the purchasing process. Users provide information as to where they are in the moving process in order to receive information on the next stage. As a result, 200,000 customer emails are generated to real estate agents each month from the 15,000 users who visit the site daily. About Mortgage Angels www.mortgageangels.co.uk Mortgage Angels is divided into two main areas of financial services: 1. Mortgage Lead Generation. Mortgage Angels is an Internet based mortgage leads business that provides advice, tools and a calculator for prospective mortgage customers. Given the FSA (Financial Services Authority in the UK) ban on telephone cold calling, Internet based mortgage lead generation has become increasingly important. Mortgage Angels was set up to aggregate leads and promote an affiliate program to satisfy the demand from brokers. Mortgage Angels currently receives over 40,000 mortgage enquiries a year. That information is then sold to various independent mortgage advisers. 2. Mortgage Brokerage. Additionally, Mortgage Angels is currently building a network of self-employed mortgage brokers. The plan is to ultimately have at least one adviser in every postal code region in the U.K. About OneMove www.onemovetech.com OneMove is a one-stop shop designed to greatly ease the burdens all parties in a real estate transaction. It currently operates in the British Columbia and U.K. markets. OneMove facilitates efficient communication between parties such as lawyers, conveyancers, realtors, lenders and buyers and sellers. OneMove's U.K. operation also offers a one-stop online shop for home buyers to access real estate listings through one of the largest property search portals in England and Wales. OneMove also gives buyers an unprecedented level of comfort by offering a unique insurance product to protect sellers if a deal fails. In addition, OneMove offers an association of service providers, which include realtors, lawyers and lenders (www.onemove.com). The forward-looking information contained in this news release represents the expectations of OneMove Technologies Inc. as at December 18, 2006 and, accordingly, is subject to change after such date. However, OneMove Technologies Inc. expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. %SEDAR: 00023118E For further information: Investor Relations: Bob Beaty/Grant Howard, The Howard Group Inc., Toll Free: 1-888-221-0915, Info@howardgroupinc.com
Source: newswire
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