Mr. Ghislain Lemire reports

FORMER OWNER OF IMOTO, DARRYL GLADE, FILES LAWSUIT AGAINST URBANIMMERSIVE

Darryl Glade, individually and on behalf of Darryl L. Glade LLC, as well as Bjarne Haug and Bagmanden LLC have initiated legal proceedings against Urbanimmersive Inc. as former owners of Imoto LLC. The plaintiffs allege various contractual breaches and related claims under the purchase agreement between Urbanimmersive and Imoto, as well as under a separate employment contract with Mr. Glade (Louisiana, Orleans CDC, Civil Suit No. 2023-0723).

In response to these allegations, Urbanimmersive maintains that all the plaintiffs' claims are unfounded and result from Mr. Glade's frustration of not having reached his first-year earnout milestone. Urbanimmersive firmly intends to defend itself against the lawsuit and has referred the case to its insurer, which has confirmed coverage for legal fees. Additionally, Urbanimmersive is actively considering all its legal options and defences, including counterclaims and third party actions. Such counterclaims and third party actions may include, but are not limited to, violations of employees' and management's duty of loyalty to Imoto before and during Urbanimmersive's integration of its business solution software, as well as the solicitation of Imoto's contractor photographers, employees and clients to work with a competitive vendor. These actions have resulted in rapid and significant client losses for Urbanimmersive. The company is determined to protect its interests and ensure a comprehensive examination of all relevant facts during the legal proceedings.

About Urbanimmersive Inc.

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

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