Thursday, 12 April 2007

One Move Closes Short Term Bridge

OneMove announced today that it has closed its previously announced $500,000 bridge financing with GC-Global Capital Corp.

Investors should note that OM intends to repay the bridge loan from the proceeds of the Company’s previously announced brokered private placement with Cormark Securities Inc. (formerly Sprott Securities Inc.) (the “Private Placement”).

The bridge loan bears interest at 12% per year, calculated and payable monthly and is secured by a general security agreement over all present and future movable property of the Company and OneMove Online Systems Inc., a share pledge of 100% of the shares of OneMove Online Systems Inc., and a personal guarantee from Mr. Martin Johnson, the Company’s President and CEO.

The loan is repayable at the earlier of October 4, 2007, and the closing of the Private Placement. In consideration for providing the guarantee, the Company issued Mr. Johnson 125,000 common shares at a deemed price of $0.40 per share. The Company has also engaged GC-Global Capital Corp. for one month to provide financial advisory services in consideration for 125,000 common shares of the Company.