VU Virtual Universe Corporation

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: (780) 469-7477

Copyright