Date Online: 2020-11-30
SAINT-HUBERT (Quebec), NOVEMBER 30, 2020 - Urbanimmersive Inc. (“Urbanimmersive”, the “Company” or “UI”) (TSX VENTURE: UI) (OTC PINK: UBMRF) is pleased to announce to start reselling its solutions in the Mexican territory.
Recently, the Company has, among other things, 1) signed a reseller agreement with an experienced sales representative in Mexico, 2) opened a new subsidiary in Mexico and 3) added Mexico as territory to its distribution agreements with its 3D equipment suppliers. By reaching those key milestones, it opens up a promising Mexican market to Urbanimmersive which expects to resell both its SaaS solutions and its 3D photography equipment.
With a Mexican population of 126 million (> 3x Canada) and considering leads provided by our hardware suppliers, we believe we are well-positioned for success. As a reference point, Urbanimmersive 3D photography equipment sales totaled $2.0 million in Canada since we acquired Immersolution in mid-February 2020.
“This reseller agreement in Mexico meets a first but important step of our multi-channel growth strategy to scale the business by adding resellers to our sales team and diversifying our activities geographically. By considering its proximity, market size, and trade agreement (‘NAFTA’) in place, Mexico is an underserved and natural market to expand and we’re looking forward to do business in Mexico”, said Ghislain Lemire, President and CEO of Urbanimmersive.
“This expansion in Mexico perfectly synthesizes the potential and synergy created by the acquisition of Immersolution by Urbanimmersive. It allows us to distribute our solutions at a faster pace and offer our customers a complete solution that goes from hardware to software”, said François-Hugues Liberge, General Manager of Immersolution.
TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the contents of this press release.
Urbanimmersive is a SaaS business management solution that provides mission-critical solutions to visual content providers serving the real estate residential, commercial, construction, and local business markets. Urbanimmersive’ platform helps customers to increase operational productivity and delivering the full potential of visual content creations through leading-edge websites builder tool, AI-backed image indexing, robust file transfer systems, and interactive visual technology solutions. The firm's core technology is a 3D emulator powered by a visual content recognition post-production algorithm that delivers online and offline alternatives to traditional 3D engines for the creation of immersive digital environments. 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 the 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:
Ghislain Lemire President & CEO
514-394-7820 X 202
Simon Bédard, CA, CPA, CFA, MBA
Chief Financial Officer
514 394-7820 X 224