XenoHolographic Executes Three Year Exclusive Agreement to Provide the Augmented Reality Mobile App License Platform for Liberty Fairs Fashion Events Around the World Estimated up to $775,000 USD
Major Milestone Achieved - Mobile App will be Launched July 2018 at the South Beach Event
VANCOUVER, April 26, 2018 /CNW/ - Imagination Park Entertainment Inc. (CSE: IP) (OTC: IPNFF) (FRA: GMS1) ("Imagination Park" or "Company") is pleased to announce that its joint-ventured company, XenoHolographic Inc., has been selected to provide the Augmented Reality and Mobile App Software License Platform to Liberty Fairs for the next three years with a contract value estimated up to $775,000 USD.
Liberty Fairs, the world's leading directional fashion fair and trade show event operator, will be announcing its debut fashion, beauty, wellness and music festival, PARAISO, in a high-profile PR event on May 5, 2018 at the W South Beach in Miami Beach. Major consumer-facing fashion lifestyle events are also planned for New York, Los Vegas, Los Angeles, and Paris in 2018.
"XenoHolographic demonstrated the most advanced augmented reality mobile platform as compared to any other technology solution our team reviewed. We look forward to our long-lasting creative partnership and to providing our fashion lifestyle attendees the most advanced augmented reality mobile experience available," stated Stephen Savage, President of Liberty Fairs.
Jordan English, Managing Partner at New Brave World and agent for Liberty Fairs stated: "XenoHolographic's data capabilities will provide Liberty Fairs numerous global brand & agency sponsors with unmatched consumer insights and the technology platform is sure to drive millions of dollars in new value."
Alen Paul Silverrstieen, CEO of XenoHolographics, stated: "We are excited about our three year exclusive partnership with Liberty Fairs. As the leading fashion event organizers in the world, the Xeno AR Mobile App is honored to have been trusted with presenting their various brands and events to the global fashion community and to fashion lifestyle consumers around the world."
The Xeno AR Mobile App will assist all attendees in discovery of events, admission to exclusive parties, concerts, VIP experiences, and other core on-site integrations. It will be available for both IOS and Android.
Further, the Company has amended the terms of 1,389,928 common share purchase warrants (the "Warrants"), that were issued by way of private placement, by reducing the exercise price to $0.70.
The Warrants affected are the 1,389,928 non-transferable share purchase warrants issued on March 19, 2018 at an exercise price of $0.90 and an expiry date of March 19, 2020.
The Company will send out new warrant certificates to the subscribers.
About Liberty Fairs
Liberty Fairs is an international men's contemporary and lifestyle trade event with shows in New York City and Las Vegas, and also serves as the parent company of Capsule Show, Cabana Show, and joint venture PARAISO Fashion Fair. Created by founder, visionary, & entrepreneur, Sam Ben-Avraham, Liberty is about freedom; it's about space without boundaries. Liberty curates the most forward-thinking brands and brings them together with the industry's top buyers in an inspiring design driven environment. The blend of commerce & creativity introduces a new era in trade events and delivers the best of what's new across the industry.
About New Brave World
New Brave World is a leading media innovation firm providing strategy, consulting, and Brand & Agency representation to a select portfolio of sports, entertainment, publishing, and technology companies.
About Imagination Park
An emerging leader in digital content production, Imagination Park creates and delivers transformational experiences through the production and distribution of intellectual property for film, virtual reality, augmented reality & mixed reality in North America and China.
Through its joint venture company XenoHolographic, it creates novel holographic content and provides augmented reality products for phones and wearable headsets, as well as rapid deployment of AR solutions, without the need for developers, while integrating artificial intelligence (AI) and Blockchain.
ON BEHALF OF THE BOARD,
Alen Paul Silverrstieen
President & CEO
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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 Imagination Park's management. Although Imagination Park 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 Imagination Park 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 Imagination Park 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 Imagination Park Entertainment Inc.
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