Virtual Universe Corporation approves sale of domain name VU.COM

    




 EDMONTON, AB, Nov. 11, 2011 /CNW/ - Virtual Universe Corporation  (the "Company") (TSXV-VU), announced today that it has agreed to sell its entire  right, title and interest in the domain name VU.COM, together with any  unregistered trade-mark rights resulting from the Company's use of such  domain name (the "Domain Name") to Mortgage Research Center LLC for $700,000 USD (the "Sale"). 

 The Company will retain all right, title, and interest in and to the  materials on the website located at the Domain Name as of the effective  date of the Sale (the "Website") including all copyrights to webpages designed for the Website, page  layouts for the Website, all graphics used at the Website, all  databases generated for the Website, and all banner advertisements for  the Website. The Company will move its existing web presence to a new  domain, VUCORP.CA. 

 Pursuant to the terms of the Domain Name Purchase Agreement dated  November 9, 2011, the Company may still create other websites for its  use similar to the Website as the Sale pertains only to the Domain  Name. 

 The Company has two principal areas of interest. It owns and maintains  an indefeasible right of use in two dark strands of optical fibers in  Alberta, Canada and is exploring options for future revenues from the  asset.  In addition, the Company has proprietary technology called  Virtual Talker, which allows multiple participants to engage in  real-time verbal conversations over the internet. The Company has  suspended development and marketing of the Virtual Talker product line  due to lack of financial resources. 

 This press release contains certain ''forward-looking statements''.  These statements relate to future events or the Company's future  performance. All statements other than statements of historical fact  are forward-looking statements. The use of any of the words  "anticipate", "plan", "continue", "estimate", "expect", "may", "will",  "project", "should", "believe", "predict" and "potential" and similar  expressions are intended to identify forward-looking statements. These  statements involve known and unknown risks, uncertainties and other  factors that may cause actual results or events to differ materially  from those anticipated in such forward-looking statements. No assurance  can be given that these expectations will prove to be correct and such  forward-looking statements should not be unduly relied upon. These  forward-looking statements are made as of the date of this press  release and the Company does not undertake to update any  forward-looking statements that are contained in this press release,  except in accordance with applicable securities laws. 

Virtual Universe Corporation


CONTACT:  Virtual Universe CorporationLorn Becker - President and CEOTelephone: [phone] 


    

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