ImagineAR and Loop Insights Sign MOU To Integrate Augmented Reality and Artificial Intelligence, Creating Real-Time Actionable Data For Brands To Hyper Target Consumers and Sports Fans

VANCOUVER, BC and ERIE Pa., July 20, 2020 /CNW/ - ImagineAR Inc. (CSE: IP) (OTCQB: IPNFF) ("ImagineAR" or "Company") an Augmented Reality Company that enables sports teams, businesses, retailers and organizations to instantly create their own AR mobile campaigns, is pleased to announce the signing of an MOU with Loop Insights Inc. (TSXV: MTRX) ("Loop"), a provider of contactless solutions and Artificial Intelligence ("AI") to drive marketing and real-time consumer insights.

The integration of each company's respective technologies into a singular platform will deliver personalized promotions and targeted engagement, leading to higher conversions and transaction revenue in the professional sports, entertainment and retail industries.

Both companies are well supported and positioned with Loop recently becoming a member of the Amazon Partner Network and ImagineAR being a Microsoft co-sell Azure partner. ImagineAR clients include NBA Sacramento Kings, AT&T, Mall of America, and the Basketball Hall of Fame.

LOOP INSIGHTS ENTERING COMMERCIALIZATION WITH TIER-1 CUSTOMERS AND NORTH AMERICAN TELECOM GIANTS

On July 13, 2020 Loop announced the acceleration of conversations and projects with two of Canada's largest telecommunications companies, as well as, two of the largest network providers in the United States.  Moreover, the Company is in advanced discussions with major organizations in the NFL, NHL, NCAA and a globally renowned Casino company.

Loop Insights CEO Rob Anson stated: "Loop Insights utilization of Artificial Intelligence and IoT technology was already turning heads in retail with our ability to deliver dynamic, personalized promotions in real time.  With ImagineAR's immersive AR applications, we can create a whole new world of engagement that does not exist today.  Together, our innovative solution unlocks engagement strategies that consumers simply have not previously experienced. This is the convergence of AI, IoT and AR that technology companies have been promising the retail industry for years."

THE COMBINED OFFERING AND MARKET OPPORTUNITY

ImagineAR allows its clients real-time engagement with their consumer using mobile augmented reality. Loop Insights enhances the AR solution with artificial intelligence to make the customer experience hyper-personalized promotions for the purpose of generating a higher average spend. Loop and ImagineAR will jointly introduce their platform to each other's global client networks to increase reach and accelerate scalability. Revenues will be driven through onboarding and annual licensing fees, both companies will also benefit from monthly Software as a Service (SaaS) and managed service fees.

ImagineAR CEO Paul Silverrstieen added: "Both of our companies are already focused on the sports, entertainment and retail industries. ImagineAR's platform solution captures fan and consumer attention with its immersive experiential AR activations. Now with Loop's integration, we can offer highly personalized, dynamic targeted promotions to increase loyalty and consumer spend, as well as marketing attribution to create detailed fan loyalty profiles, for our shared global clients."

Together, the companies plan on seizing huge market opportunities in AR and AI. According to Allied Market Research, in 2017, the global augmented and virtual reality market size was $11.35 billion, and is now projected to reach $571.42 billion by 2025—growing at a CAGR of 63.3%. The global artificial intelligence market size was estimated at $39.9 billion in 2019, and is expected to reach 62.3 billion by the end of this year (2020) alone. The companies are set on capturing meaningful market share by merging their respective groundbreaking technologies, which are already achieving 3^rd party validation.

IMAGINE AR RECEIVES OVER $3,500,000 FROM EXERCISE OF WARRANTS

Pursuant to the Company's press release of July 8, 2020, in which ImagineAR announced it had received over $1,500,000 from the exercise of warrants to fund our Augmented Reality growth and operations, the Company is pleased to advise the total has now surpassed $3,500,000.

The proceeds from this latest round of warrant exercises is expected to provide ImagineAR with the financial resources necessary to fund growth and operations for a minimum of 24 months, assuming the Company wasn't able to generate any further revenue from business operations.

However, as the Company expects to generate meaningful revenue from its current and anticipated sales pipeline over the next 12 months, as well as, receive additional proceeds from further anticipated warrant exercises, the Company is confident it now has the war chest necessary to pursue all anticipated business opportunities as the demand for its Augmented Reality solutions continues to grow on a weekly basis. 

About Loop Insights

Loop is a Vancouver-based technology company that provides transformative artificial intelligence services and IoT solutions to the brick and mortar retail industry to support its longevity in the face of a growing online consumer culture. At the core of its solution is the Fobi IoT technology, which has the unique ability to connect company-wide data with in-store transactional data in real time. This disruptive capability creates revenue-generating insights, which can be actioned through Loop's automated personalized marketing platform to increase foot traffic, wallet share, loyalty and spend.

About ImagineAR

ImagineAR Inc. (IP:CSE) (IPNFF:OTCQB) is an augmented reality (AR) platform, ImagineAR.com, that enables businesses of any size to create and implement their own AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds. Customers simply point their mobile device at logos, signs, buildings, products, landmarks and more to instantly engage videos, information, advertisements, coupons, 3D holograms and any interactive content all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means that all customer interaction is tracked and measured in real-time. The AR Enterprise platform supports both IOS and Android mobile devices and upcoming wearable technologies. The AR Platform is available as an SDK Plug-in for existing mobile apps.

This News Release is available on the company's CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.

All trademarks of the property of respective owners.

ON BEHALF OF THE BOARD

Alen Paul Silverrstieen
President & CEO

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We encourage you to do your own due diligence and ask your broker if Imagine AR Inc. (cse: IP) is suitable for your particular investment portfolio*.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release. This press release may include 'forward-looking information' within the meaning of Canadian securities legislation, concerning the business of the Company. The forward looking information is based on certain key expectations and assumptions made by Imagine AR management. Although Imagine AR believes that the expectations and assumptions on which such forward- looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Imagine AR can give no assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and Imagine AR disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. 

SOURCE ImagineAR