Urbanimmersive Announces the Nomination of a New Chairman of the Board

LAVAL, Quebec, May 04, 2020 (GLOBE NEWSWIRE) — Urbanimmersive Inc. (“Urbanimmersive,” the “Company” or “UI”) (TSX VENTURE: UI) (OTC PINK: UBMRF) is pleased to announce today that Mr. Jean-François Grou is appointed Chairman of the Board of Urbanimmersive, succeeding Mr. James McDonald who has been the Chairman since 2011. Mr. McDonald will continue to serve as Board member to ensure a smooth transition and to provide enough time to nominate a new Board member. These changes are effective immediately.
Along with serving on the Board of Directors of Urbanimmersive since December 2017, Mr. Grou acted as President and Chief Operating Officer (COO) of Rideau Recognition Inc., a Canadian technology company with nearly 250 employees having offices in Canada and in the US. Before this role, Mr. Grou was CEO and Director of 20-20 Technologies Inc., a Quebec-based technology company previously listed on the TSX with nearly 550 employees located in 13 different offices worldwide.“It has been an honour to serve as Urbanimmersive Chairman of the Board for the last nine years, but the time has come to slow down my business activities. As Chairman, Jean-François’ solid knowledge of the immersive software technology industry and his insights about the Company will greatly benefit the Board of Directors and Urbanimmersive. In these exciting and promising times for the Company, I have no doubt that Jean-François, with the support of the entire team, will pursue Urbanimmersive’s journey and contribute in his own way to the Company’s success while building on UI’s current momentum,” said James McDonald.“It is a privilege to be nominated by the Board as the incoming Chairman. I look forward to assuming my new responsibilities as Chairman of the Board and I intend to ensure that we continue to deliver on our promising business growth plan. On behalf of the Board, the Management team and all its employees, I would like to thank James for his guidance, expertise, commitment and support over the past nine years brilliantly overcoming business challenges in order to maintain the Company on the route of success,” said Jean-François Grou.TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the contents of this press release.About UrbanimmersiveUrbanimmersive (“UI”) is a leading B2B Software-as-a-Service (“SAAS”) marketing solution for professional photographers and other 3D immersive visual content providers, particularly for the real estate market (“Proptech”). Its unique SaaS platforms (UI, Tourbuzz) offer AI-backed pay-per-use solutions to produce high-quality 3D environments and improve customers operational productivity. Its proprietary core technology is a 3D emulator powered by a visual content recognition post-production algorithm that delivers high-quality, unique and cost-effective alternatives to traditional 3D engines for the creation of 3D immersive environments. The Company also resells complementary photography equipment through its subsidiary Immersolution.Caution of Forward-Looking StatementsCertain statements in this news release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management estimates or opinions change.For more information, please contact:Urbanimmersive Inc. Ghislain Lemire President & CEO 514-394-7820 X 202
Simon Bédard, CA, CPA, CFA, MBA
Chief Financial Officer
514 394-7820 X 224

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