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TMCNet:  iLOOKABOUT Announces Joint Venture with Cherre

[April 12, 2018]

iLOOKABOUT Announces Joint Venture with Cherre

TORONTO, April 12, 2018 (GLOBE NEWSWIRE) -- iLOOKABOUT Corp. (TSXV:ILA) (“iLOOKABOUT” or “the Company”) today announced the signing of a consulting agreement (the ”Consulting Agreement”) with Cherre, Inc., (“Cherre”) developer of an inter-connected market platform that provides residential real estate data to investors and brokerage firms.

“Real estate is by far the world’s largest asset class in value, but has yet to meaningfully adapt to modern information exchange standards and trading platforms, resulting in limited accessibility, and disparate, contradictory data,” said Gary Yeoman, Chief Executive Officer of iLOOKABOUT.  “Working with Cherre’s technological expertise – combined with its proprietary machine-learning application programming interface (API) – will allow us to build the blockchain infrastructure that will democratize real estate data across North America, and capitalize on the demand for secure, integrated and accurate property information.”

“This collaboration represents an important next step in the future of real estate, as we work to create a decentralized marketplace that enables all stakeholders to seamlessly transact in the market, ushering in a new era of data integrity and usage opportunities,” said Chief Executive Officer of Cherre, L.D. Salmanson. “iLOOKABOUT’s management team brings the necessary depth of insight and experience to lead the real estate industry in the development of a vital and vibrant ecosystem that will fundamentally change the way we consume and exchange information across both commercial and residential markets. We look forward to working together on this transformative initiative that will act as a catalyst for value creation – empowering property owners and industry professionals to participate in and benefit from improved data access, enhanced surety and security, greater efficiencies and lower costs.”
The joint venture is effective immediately. iLOOKABOUT, while undertaking the blockchain initiative, will continue to provide its software, data analytics and visual intelligence services to its clients in the property assessment, property taxation, municipal, insurance and appraisal sectors.

Cherrehas been engaged as a consultant of iLOOKABOUT to work collaboratively in the development of the joint blockchain initiative.  Under the terms of the Consulting Agreement, Cherre will receive a fixed monthly fee as well as 1,000,000 stock options, such options having an exercise price of $0.30 and vesting on mutually agreed upon milestones.  The Agreement also contains certain participation rights of each of the parties should the joint initiative result in an initial coin offering, with iLOOKABOUT retaining 70% ownership of such an initiative.

iLOOKABOUT is a software, data analytics and visual intelligence company focused on real property. The Company primarily serves the property assessment, property taxation, municipal, insurance, and appraisal sectors, both public and private, in North America. iLOOKABOUT provides powerful data analytics to the real estate industry through its Real Property Tax Analytics software offering. The Company’s proprietary StreetScape™ imagery and real property focused web-based application, GeoViewPort™, unifies property related data and enables desktop review of properties. iLOOKABOUT has integrated analytics and workflow management applications into GeoViewPort™ which create highly valued service offerings for its clients. To augment its technology-based offerings, the Company provides real estate consulting services, with a focus on the Property Tax and Valuation sectors.

iLOOKABOUT’s common shares are traded on the TSX Venture Exchange under the symbol ILA. 

About Cherre, Inc.
With offices in New York, Boston and Tel Aviv, Cherre is the data network for real estate. Led by a dedicated team of technology and real estate experts, Cherre is committed to empowering all stakeholders with an inter-connected data-driven platform. As the leading provider of residential real estate data, trusted by the world’s foremost investors, banks, insurance companies, and brokerage firms, Cherre’s proprietary platform allows customers to quickly access, verify and augment existing public and private data feeds to gain unparalleled insight and comprehensive coverage of millions of properties. Cherre’s data is constantly updated by observing and learning from countless user interactions, making it the most accurate and reliable real estate data source.  Cherre is privately owned, and its investors include large real estate private equity firms and family offices. 

Forward-Looking Statements
This news release contains forward-looking statements that involve assumptions and estimates that may not be realized and other risks and uncertainties. These statements relate to future events or future performance and reflect management’s current expectations and assumptions which are based on information currently available to the Company’s management. There is significant risk that forward-looking statements will not prove to be accurate and there can be no assurance that the joint venture will be carried out on the terms proposed above or at all. These statements are based on a number of assumptions, including, but not limited to, continued demand for iLOOKABOUT products and services. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward looking statements. The inclusion of this information should not be regarded as a representation of the Company or any other person that the anticipated results will be achieved and investors are cautioned not to place undue reliance on such information. These forward-looking statements are made as of the date of this news release, or as otherwise stated, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

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.


Gary Yeoman, CEO

Robin Dyson, CFO

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