OneMove Technologies Secures Bridge Financing

OneMove Technologies Inc. is pleased to announce that it has arranged for bridge financings totaling $1,640,000 from various sources. The Company intends to repay the bridge financings from the proceeds of the Company's previously announced brokered private placement with Sprott Securities Inc..

Of the bridge financings, $500,000 is being provided by GC-Global Capital Corp. and will bear interest at 12% per year, calculated and payable monthly. The GC-Global Capital Corp. bridge loan is secured by a first ranking general security agreement over all present and future movable property of the Company and OneMove Online Systems Inc. (the Company's wholly-owned subsidiary), 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 six months from the closing date of the bridge financing, and the closing of the Private Placement. In consideration for providing the guarantee, the Company has agreed to issue Mr. Johnson 125,000 common shares at a deemed price of $0.40 per share. The Company has also agreed to engage GC-Global Capital Corp. for one month to provide financial advisory services in consideration for 125,000 common shares of the Company.

The remaining $1,140,000 bridge loans bear interest at 1% per month, calculated monthly and repayable on the maturity of the loans. These loans mature May 30, 2007, except $140,000, which matures on April 30, 2007. In consideration for providing the bridge loans, the Company has agreed to issue the lenders a total of 1,140,000 share purchase warrants upon repayment of the bridge loans. The warrants will be exercisable for two years from the date of issuance at $0.40 per share.

All of the lenders are at arm's length to the Company. The Company intends to use the proceeds from the bridge financing for build-out and rent deposit on a location in the United Kingdom for the Company's subsidiary and general working capital. -- www.cnxmarketlink.com

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