Urbanimmersive Announces Resignation of Ghislain Lemire as

SAINT-HUBERT, Quebec, Dec. 15, 2023 (GLOBE NEWSWIRE) — Urbanimmersive Inc. (“Urbanimmersive,” “the Company,” or “UI”) (TSX VENTURE: UI) (OTCQB: UBMRF), a provider of 3D digital twin solutions for real estate marketing, today announced that Ghislain Lemire is stepping down from his role as Chief Executive Officer, effective immediately. He is replaced on an interim basis by M. Simon Bedard, Chief Financial Officer, until such time that a replacement is identified. The Human Resource and Governance Committee will be in charge of the permanent replacement process for the CEO role.

Mr. Lemire, a founding member of the Company, has led Urbanimmersive for 15 years, guiding it through significant innovations and milestones. Mr. Lemire will continue to serve as a Chairman and member of the Board of Directors, bringing his invaluable experience and insights to guide the Company’s strategic direction. Mr. Lemire he will continue to help the Company on strategic initiatives during the transition period. His ongoing involvement also ensures continuity and stability at the governance level, underlining his commitment to Urbanimmersive’s long-term success and vision.

“In my tenure as CEO, I have had the privilege of steering Urbanimmersive through numerous adversities and challenges, fostering resilience and growth in ways I could never have imagined. This journey has taken the Company further than I envisioned, building a robust platform for future success. My greatest achievement and source of pride is having built one of the most innovative, talented, and passionate teams in the industry. As I step down, I do so with a heavy heart but also with immense pride in what we have achieved against all odds. The timing is ideal for a transformative change as the real estate market shows sign of recovery, which will boost Urbanimmersive off the ground. A new CEO, bringing fresh energy, vision, and execution, will be instrumental in propelling the Company forward into its next phase of growth,” stated Ghislain Lemire.

The Board takes the opportunity to appreciate its Chief Executive Officer commitment and expresses its thanks for his services, wishing him every success in his future endeavors.

TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the contents of this press release.

About Urbanimmersive

Urbanimmersive develops and commercializes real estate photography technologies and services focused on redefining industry visual content standards. The Company all-in-one platform enables high-volume photography businesses to increase operational productivity delivering feature-rich 3D tours and floor plans, leading-edge property websites and high-resolution AI-indexed images. The Company operating segments include software (SaaS), 3D 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. Learn more at urbanimmersive.com.

Caution of Forward-Looking Statements

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 more information, please contact:

Simon Bédard, CA, CPA, CFA, MBA
Interim Chief Executive Officer and Chief Financial Officer
514 394-7820 X 224
simonbedard@urbanimmersive.com