Market Overview

XMN Blockchain Selects Urbanimmersive Line of Credit Solution for the Development of Their First Showcase

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LAVAL, Québec, May 31, 2018 (GLOBE NEWSWIRE) -- Urbanimmersive Inc. ("Urbanimmersive," "UI," or the "Corporation") (TSX:UI) (OTC:UBMRF), a real estate content marketing platform, announces that it has entered into a strategic partnership agreement with XMNBlockchain ("XMN ‘). Under this partnership agreement, XMN will develop, integrate and implement XMN blockchain technology within Urbanimmersive line of credit at no charge in order to create a first real life showcase financial application using OpenXMN blockchain technology and tokens.    

Urbanimmersive line of credit (the "Solution") has proved to be a strategic and essential feature in the growth and development of the Corporation's affiliate program. The Solution has also shown to be an effective market differentiator helping to attract and retain real estate agents and home builders as opposed to freelancer marketing services platforms that only offer credit-card payment option. 

"We chose Urbanimmersive for our initial blockchain project as we believe we can show the real power of our decentralized blockchain solution effectively within their line of credit program. There is a lot of excitement from the blockchain development community as we have roughly 1200 developers eager to develop with the OpenXMN Network once we show that our initial project with Urbanimmersive to be successful. We look forward to pushing this project toward implementation, allowing Urbanimmersive the ability to strategically scale its affiliate network and allowing XMN Blockchain Services to push forward with its vision for creating the most effective decentralized blockchain network that exists today." Stated Steve Rodrigue, Founder and CEO of XMNBlochain

Urbanimmersive's line of credit provides the same flexibility as a standard credit card payment system with the exception that it is only available for services sold and invoiced by Urbanimmersive's platform. Urbanimmersive charges the clients of its Solution an average monthly interest of 2% (24% annually) on payment balance.

Urbanimmersive management believes that moving its line of credit application to XMN blockchain decentralized marketplace would attract new loan venture partners by providing a trustable and transparent platform where every single transaction can be audited by a network of decentralized ledgers acknowledging among other things, loan amounts, capital repayments and interest revenues especially as it applies to numerous micro-financing transactions. 

Multiple loan ventures would ultimately create a competitive environment where financial loan partners would compete for the loans of Urbanimmersive's clients, and therefore would provide better markup on monthly interest charged to clients by Urbanimmersive.

"In our particularly line of credit project, blockchain technologies currently available for application developers such as the Ethereum smart contracts are great but present many limitations in terms of the number of transactions that can be performed by seconds, in terms of the cost to write into a blockchain and by the fact that we were not able to process data inside a blockchain like the real-time interest calculations.  Those limitations are addressed by a growing community of developers joining XMN Blockchain group and we feel privileged they have selected Urbanimmersive to showcase their propriety blockchain technology edges. Having XMN Blockchain founder and his growing community of developers helping Urbanimmersive (at no charge) to achieve this project is a clear indication that our blockchain integration project makes sense, that we will succeed in achieving it the right way with the best developers." Stated Ghislain Lemire, CEO, Urbanimmersive.

In order to run OpenXMN Blockchain technology needed from this new partnership, Urbanimmersive has acquired 34,000 XMN-Q.  This acquisition has been paid with 17 Ethereum coins owned by Urbanimmersive from its Ethereum internal mining operation (see January 9, 2018' press release: Urbanimmersive converts its former 3D imaging servers to Ethereum cryptocurrency mining operations and starts blockchain integration within its platform).  The XMN-Q are computing power quotas that Urbanimmersive will be allowed to make available on the XMN computing power marketplace to be rent by XMN clients community in order to performed cryptomining, artificial intelligence (AI), visual content renderings, 3D video renderings and all other processes requiring computing power.  "Going forward and with the growing demands for AI computing power, we believe that putting our entire servers room on the XMN marketplace will provide a better return for Urbanimmersive than using our computing power just for mining Ethereum, which by the way, mining performance is decreasing week after week due among other things to the growing complexity and the size of the Ethereum block." Stated Ghislain Lemire, CEO, Urbanimmersive.  

About XMN Blockchain Services Ltd

XMN Blockchain Services Ltd is a privately owned software company that develops EngineXMN, a development framework used to create custom proof-of-stake (PoS) blockchain applications.  Using EngineXMN, XMN Blockhain Services Ltd. created OpenXMN, a decentralized cloud computing infrastructure that enables developers to rent servers on an open market. It uses a proof-of-stake (PoS) blockchain database to record the transactions between the customers and the server providers.  Using EngineXMN, clients can develop and deploy blockchain applications on the OpenXMN servers in order to run a custom decentralized application that can scale to 1M+ transactions per seconds, host large files like video assets and process these assets directly on the decentralized servers of OpenXMN.  For more information, visit http://xmnblockchain.com

About Urbanimmersive

Urbanimmersive is a content marketing platform for real estate professionals. The Corporation connects real estate professionals, photographers and writers in order to simplify and optimize original content production workflow. Urbanimmersive enables its customers to leverage their marketing investment while increasing productivity, competitiveness, their web visibility, consumer engagement with their brand and ultimately, their revenue.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Certain statements in this news release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management estimates or opinions change.   For additional information with respect to certain of these and other assumptions and risk factors, please refer to the last Corporation's MD&A filed with the Canadian securities commissions. The forward-looking statements contained in this press release represent our expectations as of the date hereof. We disclaim any intention and assume no obligation to update or revise any forward-looking statements.

For more information, please contact:

Urbanimmersive Inc.
Ghislain Lemire
President & CEO
514-394-7820 X 202
ghislainlemire@urbanimmersive.com
www.urbanimmersive.com   

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