Mr. Ghislain Lemire reports

URBANIMMERSIVE SECURES A $0.7M FINANCING

Urbanimmersive Inc. has secured a non-brokered private placement of 10,510,500 units at a price of seven cents per unit for gross proceeds of $735,735. Each unit consists of one common share of the company and one share purchase warrant entitling the holder to purchase an additional common share of the company at a price of 12.5 cents per share until Oct. 5, 2026 (three years). The proceeds are anticipated to be used for sales- and marketing-related activities and general purposes. The closing of this arm's-length private placement is subject to the approval of the TSX Venture Exchange and other customary conditions.

"We are delighted to have completed this financing in challenging real estate and stock market conditions, demonstrating the confidence of our shareholders in our strategic growth plan and the potential of Urbanimmersive. This financing also gives us more flexibility to execute our organic growth plan," declared Simon Bedard, chief financial officer of Urbanimmersive.

A referral fee was paid as compensation of $39,319 along with 537,200 warrants to purchase up to 537,200 common shares of the company at a price of 12.5 cents per share at any time until Oct. 5, 2026. All securities issued in the private placement are subject to a four-month-and-a-day hold period until Feb. 6, 2024.

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 3-D tours and floor plans, leading-edge property websites, and high-resolution artificial-intelligence-indexed images. The company's operating segments include software (software-as-a-service), 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-shoots standards transformation.

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