IRVINE, Calif., Oct. 13, 2022 /CNW/ -  On October 11, 2022 CoreLogic Solutions, LLC ("CoreLogic") entered into an agreement (the "Agreement") with Urbanimmersive Inc. ("Urbanimmersive") for the sale to Urbanimmersive of CoreLogic's subsidiary, HomeVisit LLC, in exchange for common shares in the capital of Urbanimmersive (the "Common Shares") and a promissory note.

The number of Common Shares to be issued to CoreLogic on closing will be equal to 19.9 % of the issued and outstanding Common Shares of Urbanimmersive on an undiluted basis, with the price per Common Share to be based on the volume weighted average closing price of the Common Shares on the TSX Venture Exchange for the five trading days immediately prior to closing, less any applicable discount under the TSX Venture Exchange discount rules. CoreLogic does not currently have beneficial ownership of, or control and direction over, any Common Shares of UrbanImmersive.

CoreLogic is owned by CoreLogic, Inc., which in turn is controlled by funds and/or accounts managed by Stone Point Capital LLC. 

The Common Shares have been acquired by CoreLogic for investment purposes. None of Stone Point Capital, CoreLogic or any joint actor has any current intention of increasing its ownership of, or control or direction over, additional securities of Urbanimmersive. CoreLogic may, from time to time, increase or decrease its ownership of the Common Shares or other securities of Urbanimmersive depending on market and other conditions.

This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. An early warning report will be filed on SEDAR at www.sedar.com under Urbanimmersive's issuer profile. To obtain a copy of the early warning report filed in connection with this transaction, please contact CoreLogic Solutions, LLC, Kristie Vainikos Stegen, Chief Communications Officer, Email Contact.

SOURCE CoreLogic Solutions, LLC