Urbanimmersive Provides Business Updates

SAINT-HUBERT, Quebec, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Urbanimmersive Inc. ("Urbanimmersive," the "Company" or "UI") (TSV-V UI) (OTCQB: UBMRF) is pleased to provide some business updates.

Expansion of MLS Connection Partners
Since the acquisition of HomeVisit in October 2022 and its new partnership with CoreLogic, Urbanimmersive has rapidly expanded its MLS Connection Partner Program by going from one to 25 MLS connected partners, including some of the largest MLS in the real estate market. The MLS Connection Partner Program enables real estate agent members to use their MLS credential to login on the Urbanimmersive Private Enterprise Resource Planning (?PERP') platform. This connection greatly eases new client onboarding as well as usage of the Urbanimmersive platform. In most cases, it also involves a co-marketing effort with the MLS to promote Urbanimmersive real estate photography services.

CoreLogic Data Exchange Agreement
In January 2023, Urbanimmersive has entered into a long-term data exchange agreement with CoreLogic. This agreement enables Urbanimmersive to get access to real time listing property data where CoreLogic MLS systems are used and where the data exchange is accepted by the MLS. In exchange, Urbanimmersive provides CoreLogic with a right of use of the visual content produced by Urbanimmersive owned real estate photography businesses. The listing data will be used by Urbanimmersive to automatically populate single property websites while providing a clear productivity advantage over the competition where most of the time, listing data are manually keypunched. The automatic data exchange also enables Urbanimmersive to deliver photoshoot orders automatically once photographers upload their visual content the providing an important advantage in terms of delivery time.

Formal launch of a new subscription membership
Following a full year of fine-tuning, Urbanimmersive has recently formally launched a new growth initiative called "Prime" to all its clients. Prime is a monthly membership program, fully enabled by Urbanimmersive's PERP, which can be delivered in customizable ways across all of Urbanimmersive's growing list of brands and franchises.

Targeted primarily for real estate agents, Prime membership pricing start at $30 per month and enables convenient, attractively priced bundled access to a high-quality suite of real estate photography and marketing services - including 3D tours, 2D floor plans, single property websites and flyers added to every photography order. Prime members can also access to the cutting-edge UiMeet3D metaverse product which enables real-time, interactive video home tours between real estate agents and their client avatars inside of the 3D tour itself. Prime is already seeing adoption from a cross-section of real estate agents in North America. Prime subscription offering has been made available recently to all HomeVisit customers via the following link: https://www.homevisit.com/prime.

Urbanimmersive Marketplace Major Updates
Launched in 2015 and used since by Centris in Quebec, one of the largest networks of real estate agents member in Canada with more than 13,000 members, Urbanimmersive Marketplace gathers both real estate photographers and real estate agents to a centralized transactional marketplace. This marketplace is fully powered by the Company's PERP, where mission-critical real estate marketing services from photographers can be ordered, paid and delivered efficiently. During the last couple of months, Urbanimmersive has performed major functionality updates to the marketplace with the objective of rolling it out in other regions. The updates include among other features, the integration of Tourbuzz Single Property Website, multi-time zones scheduling facility, guaranteed hours booking option and more. The business model attached to the marketplace is expected to be recurring and high margin, but more importantly support organic revenue growth via a fly-wheel marketing effect which attracts and retains both real estate photographers and real estate agents on Urbanimmersive PERP.

About Urbanimmersive

Urbanimmersive develops and commercializes real estate photography technologies and services focused on redefining industry visual content standards. The Company all-in-one platform enables high-volume photography businesses to increase operational productivity delivering feature-rich 3D tours and floor plans, leading-edge property websites and high-resolution AI-indexed images. The Company operating segments include software (SaaS), 3D photography equipment and, in a growing number of North American cities, technology-powered real estate photography service business units leading the industry photo-shoots standards transformation. Learn more at urbanimmersive.com.

Caution of Forward-Looking Statements

Certain 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
Ghislain Lemire
President & CEO
514-394-7820 X 202
[email protected]

Simon Bédard, CA, CPA, CFA, MBA
Chief Financial Officer
514 394-7820 X 224
[email protected]