VANCOUVER, BC and ERIE Pa., June 30, 2020 /CNW/ - Imagine AR Inc. (IP:CSE) (IPNFF:OTCQB) ("ImagineAR" or "Company") an Augmented Reality Company that enables businesses, sports teams and organizations to create their own AR campaigns, would like to take this opportunity to provide investors with a mid-year corporate update during this holiday shortened week in which both the Canadian and American stock markets will be closed for their respective independence day holidays.
Though the Company fully expects to resume the release of further news related to significant business development after this week, investors will be happy to hear about new developments in this update.
AN INCREDIBLE BUT NOT SURPRISING 2020 SO FAR FOR IMAGINEAR
Alen Paul Silverrstieen, CEO of ImagineAR, stated "This was the year that, by all expert accounts, was the year that Augmented Reality would begin to make its first commercialization push and it did not disappoint. Despite dramatic geo-political, economic and societal volatility from the start of 2020 resulting in delays to some of our negotiations, we were still able to close a significant financing, announce significant national and global partnerships, and add top notch people to our board and team. It is safe to say that we anticipate significant results to stem from this positioning in the second half of the year and, quite frankly, for the foreseeable future".
MARKET CAPITALIZATION APPRECIATION IN 2020
The Company's great progress in 2020, as well as, positioning for growth can best be observed through our market capitalization growth in 2020. At the outset of the year, ImagineAR had a market capitalization of less than $5,000,000. Today, that figure sits at approximately $25,000,000.
Furthermore, liquidity and dollar volume trading in the first quarter was encouraging and showed us signs of promise, which came to fruition at the end of the second quarter with daily dollar volume trading regularly exceeding $500,000 and even surpassing $3,000,000 recently.
Silverrstieen added "With a market cap of approximately $25 million dollars, ImagineAR continues to provide investors with a great opportunity to participate in the anticipated growth of Augmented Reality, which promises to be a disruptive over the next 3 years and then well beyond into the rest of the decade".
2020 HIGHLIGHTS FOR IMAGINEAR
January 21 – Retained Mackie Research For Capital Market Services
January 30 – Closed Financing First Tranche Of $560,000
February 11 – Mike Tuncliffe, Former EVP & Head Of Universal Music Group and Brands, Joins Advisory Board.
"I believe ImagineAR has the potential to transform music & entertainment related properties into unique immersive experiences for fans and consumers across the Globe"
February 26 – ImagineAR Closes Over Subscribed Financing For $1,500,000
April 29 – ImagineAR Signs 5-Year, $300,000 Licensing Agreement With SlapItOn For Athletes to Engage Fans Through Augmented Reality.
"ImagineAR is the most advanced augmented reality mobile platform in the marketplace today. We are planning to provide a unique platform in today's world for artists and athletes to engage safely and consistently with fans in their homes"
May 12 – ImagineAR Announces Partnership With Engaged Nation, An Award Winning Digital Marketing Firm For Casinos
May 19 – ImagineAR Appoints Troy Miller, With Over $500 Million In Career Sports Sponsorships and Media Deals, As Advisor For Sports Venues and Live Streaming
"ImagineAR brings a leading edge Augmented Reality platform to the pro sports and collegiate athletic teams venues for fan engagement and new revenue streams."
June 4 – ImagineAR Partners With North Highland, Ranked By Forbes As One Of America's Best Management Consulting Firms In 2020.
June 15 – ImagineAR Teams Up With Music Superstar Flo Rida, NBA Superstar Dwyane Wade and Broward County Education Fund To Help Students Celebrate Graduation Through Augmented Reality
"This futuristic ImagineAR augmented reality technology is a trip – Flo Rida"
ImagineAR Video Recording Integration With TikTok & Instagram Receives Significant Media Coverage
ImagineAR launched its latest mobile app update in time for the Broward County initiative for students to record their Augmented Reality dance experiences with Flo Rida and instantly upload them to TikTok. The Flo Rida AR experience was covered by the NY Times, NBC, CBS, NPR and many other media outlets throughout the United States.
This new Augmented Reality Video Record feature allows users to record their immersive ImagineAR experiences and share them instantly into TikTok, as well as, other social media platforms.
To this end, ImagineAR just launched a special Holiday AR Experience today in which anyone in the USA or Canada can enjoy for free. Simply download the ImagineAR mobile app (IOS and Android), Select "AR Near Me", record and share in social media. It is that easy. Make sure to tag #ImagineARHoliday so that we can discover you.
IMAGINEAR SELECTED AS FINALIST TO PRESENT AT WORLD FOOTBALL SUMMIT & GLOBAL SPORTS INNOVATION CENTER – POWERED BY MICROSOFT
The WFS startcup by GSIC is known for its power to catapult sportech start-ups into the big leagues. 16 start ups from 10 different countries have been selected out of 90 candidates to pitch to the global football (Soccer – America) industry at WFS Live, where startups will have the opportunity to pitch their solutions to 100+ top speakers and nearly 3,000 industry professionals from all over the world from July 6th to 9th.
This selection demonstrates the recognition ImagineAR is gaining from the global sports industry as a disruptive technology that is capable of transforming the global football and sports industry.
The Global Sports Innovation Center (GSIC) is a business cluster powered by Microsoft Sport Team that gathers sports entities (clubs, federation, and associations), institutions, technology companies at all stages of development, research organizations, investors and key figures of sport industry to improve its value chain.
IMAGINEAR SIGNS PARTNERSHIP WITH FIRST ESCAPE ROOMS IN AMERICA TO INCORPORATE AUGMENTED REALITY – WITH POTENTIAL GLOBAL EXPANSION
Escape Room NJ, with 3 locations in New Jersey, has executed a partnership agreement to become both a client and reseller of ImagineAR. Escape Room NJ will be first-ever Escape Room in North America to integrate immersive Augmented Reality within their three locations, as well as, offer AR Scavenger Hunts to their consumer and corporate clientele. There are over 2,000 Escape Rooms around the world.
Jeff Sherer, Owner of Escape Room NJ stated "We are very excited to announce a partnership with Imagine AR. Working with them, we are proud to announce the first ever AR Escape Rooms in the world. In this day and age where some people are not comfortable to be in large groups or even indoors with other people, we believe this will offer a whole new avenue to play Escape Rooms and Scavenger Hunts outdoors around our location or even remotely out doors in their own neighborhoods using only their mobile phone. KIDS BIRTHDAY PARTIES ARE BACK ON with Escape Room and Imagine AR working together the opportunities are limitless as is the fun."
Sherer added "We are also going to be the first company to introduce AR into Rage Rooms. Partnering with Imagine AR we look forward to taking the most Smashingly Good Times you can have with an assortment of weapons and make it even better!"
Silverrstieen stated "This partnership with Escape Room NJ demonstrates the limitless applications for ImagineAR in any industry and any location. With respect to Escape Rooms specifically, Jeff is closely associated with Escape Room owners around the world and plans to present ImagineAR as an additional great product for their customers and revenue stream for owners."
Escape Room NJ is one of New Jersey's most popular Escape Room companies. Opening the first location in Bergen County NJ back in 2015, they have grown and branched into Hatchet Throwing, Kids Parties, Virtual Reality, Human Bumper Balls and many more exciting forms of entertainment for Teambuilding, Parties, Fundraisers and any other group event for all ages.
Rage Room is the first and the largest Rage Room company in NJ. With locations in Madison, Pompton Lakes and Englewood NJ they are the ultimate place to go and "BREAK SH!T"
PARTING HOLIDAY WISHES
The Company wishes its investors in both Canada (July 1st) and America (July 4th) safe and happy holidays. Finally, ImagineAR extends its thanks to all shareholders for their support and looks forward to achieving great things together over the remainder of 2020 and well beyond.
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.
ImagineAR Inc. (CSE: IP) (OTC: IPNFF) 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.
All trademarks of the property of respective owners.
ON BEHALF OF THE BOARD
Alen Paul Silverrstieen
President & CEO
We encourage you to do your own due diligence and ask your broker if Imagination Park Entertainment 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.
For further information: For more information or to explore working with Imagination Park, please email : [email protected], or visit www.imagineAR.com.