ImagineAR (OTCQB: IPNFF) Signs MOU with Global Digital Publishing Company to Purchase Volume of Three-year Platform SDK Licenses

VANCOUVER, BC and ERIE, Pa., March 1, 2023 /CNW/ - ImagineAR (CSE: IP) (OTCQB: IPNFF), a mobile Augmented Reality Company that enables sports teams, brands, and businesses to create their own dynamic mobile phone AR campaigns, announces it executed a non-binding Memorandum of Understanding with a global digital publishing company to purchase a minimum of 10 and a maximum of 25 three-year SDK mobile app licenses in 2023 for top global icons in sport, music, entertainment and gaming. Once the formal contract is signed, the SDK licenses are expected to generate revenue in the range between $200,000 CDN - $414,000 CDN per year for three years.

"After successfully partnering with this global client company in 2022, we have enhanced our partnership by executing an MOU for them to purchase a volume of three-year SDK licenses for delivering immersive holograms in mobile apps," said Alen Paul Silverrstieen, CEO and President of Imagine AR. 

About ImagineAR

ImagineAR Inc. (CSE: IP) (OTC: IPNFF) is an augmented reality (AR) platform that enables sports teams and businesses of any size to create and implement dynamic mobile 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 point their mobile devices 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.

All trademarks of the property of respective owners.

ON BEHALF OF THE BOARD

Alen Paul Silverrstieen
President & CEO

https://twitter.com/IPtechAR
https://www.linkedin.com/company/imagination-park-technologies-inc

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but is not limited to, information concerning the ability of the Company to generate revenues, roll out new programs and to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

SOURCE ImagineAR Inc.

For more information or to explore working with ImagineAR, please email: [email protected], or visit www.imagineAR.com.