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OneMove Announces Receipt of Formal Valuation in Connection With Plantro Take-Over Bid

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/16/13 -- OneMove Technologies Inc. ("OneMove" or the "Company") (TSX VENTURE:OM), the provider of the leading web-based real estate transaction platform and the creator of the largest and fastest growing online community of conveyancing professionals, announced that today it received a formal valuation of the Company's common shares prepared by MNP LLP ("MNP"), an independent accounting and financial advisory firm retained by the Company's special committee to provide a formal valuation (the "Formal Valuation Report"). The Company is required under Multilateral Instrument 61-101 ("MI 61-101") to prepare a formal valuation of its common shares as the offer to acquire the outstanding common shares of the Company previously announced by Plantro Ltd. constitutes an "insider bid" as defined under MI 61-101.

Subject to the scope, key assumptions, restrictions and qualifications noted in the Formal Valuation Report, MNP determined the fair market value of all of the issued and outstanding common shares of the Company as at December 31, 2012 to be as follows:

Summary of Value


(in $'s)                                   Low           High       Midpoint
                               ---------------------------------------------
Fair market value, rounded           4,300,000      5,400,000      4,850,000
Per share                                 0.34           0.43           0.38

Based upon the Formal Valuation Report, the offer price of $0.425 per share announced by Plantro is within the range of MNP's determination of the fair market value of the Company's common shares.

In determining the fair market value of the Company's common shares, MNP utilized a discounted cash flow ("DCF") method under the unlevered approach as the primary valuation approach to form the fair market value opinion as set forth in the Formal Valuation Report. The DCF method is generally used in situations where the future cash flows of the business entity can be reasonably forecasted and are expected to differ from historical results as a result of various business or operational changes. Under the DCF method, fair market value is determined as the net present value of expected future free cash flows. Future free cash flows (i.e. after reflecting items such as income taxes, sustaining capital expenditures, and changes in working capital) are projected over a discrete projection period and discounted by a suitable rate of return (the discount rate), which considers a number of risk factors - company specific, industry specific, forecast risk as well as the time value of money. The "residual" or "terminal" value of the business at the end of the projection period is included in the calculation, which assumes that cash flows from operations will continue to be realized at an assumed growth rate, or the business will be disposed of or exited and converted to cash.

The DCF approach considers the amount, timing and relative certainty of projected cash flows expected to be generated by the net operating assets. Assumptions must be made regarding several items including timing and amount of future cash flows, discount rates and terminal values. The risk that some of the assumptions will prove to be inaccurate (i.e. forecast risk) is one of the risk factors evaluated in the determination of the discount rate to be used in establishing a range of values. MNP's DCF analysis assumes that the Company continues to operate as a going concern and as a public company.

MNP made certain assumptions in the preparation of the Formal Valuation Report. In determining the Company's fair market value, MNP has assumed that budgets, forecasts, projections, estimates and any assumptions prepared by the Company were reasonably prepared on a basis reflecting the best possible information available to the Company at the time. MNP acknowledges that actual results may not occur as forecast; however, the forecasts represent the Company's best possible efforts at determining reasonable and accurate financial results at the time.

A summary of the Formal Valuation Report will be contained in both Plantro's take-over bid circular and in the Company's directors' circular and a full copy of the Formal Valuation Report will be filed on SEDAR and made available at www.sedar.com.

About OneMove Technologies Inc.

OneMove Technologies Inc. (TSX VENTURE:OM) is the leading provider of web-based real estate transaction platforms and the creator of the largest and fastest growing online community of conveyancing professionals. Through econveyance(TM), its proprietary web-based conveyancing software solution, OneMove(TM) simplifies and expedites the process of buying and selling real estate. Econveyance connects all participants in the property transfer process, offering a secure and efficient means of completing the transaction online. Additional information about OneMove can be found at www.onemovetech.com or www.sedar.com. Professional users site www.econveyance.com.

Forward Looking Statements

This press release contains certain "forward looking statements." These statements relate to future events or future performance and reflect expectations and belief regarding growth, results of operations, performance, business prospects, opportunities or industry performance and trends. These forward looking statements reflect current internal projections, expectations or beliefs and are based on information currently available. A number of factors could cause actual events or results to differ materially from the results discussed in the forward looking statements. Although it is believed that the forward looking statements contained in this press release are based upon reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward looking statements. These forward looking statements are made as of the date of this press release, and OneMove Technologies Inc. assumes no obligation to update or revise them to reflect new events or circumstances, except as required pursuant to applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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