CALGARY, May 4 /CNW/ - Immersive Media Corp. (TSXV: IMC) ("Corporation") announces that it has implemented its previously announced name change from "Immersive Media Corp." to "EmberClear Inc." The Corporation received shareholder approval for the name change at the Annual and Special Meeting of Shareholders held on March 3, 2010. The common shares of the Corporation are expected to begin trading under the new corporate name and under the new stock symbol, "EMB" on the TSX Venture Exchange, at market opening on May 5, 2010.
The change in name was made in connection with the Corporation's continued investment in companies in the growing green technology industry including the Corporation's strategic investments in Future Power PA Inc. ("FPPI") and T3 Motion Inc. The Corporation seeks to better link the business name with its primary activities. Starting in the second quarter of calendar year 2010, the Corporation intends to increase its efforts in developing energy related technologies to where it may represent the vast majority of the business. The recently announced developments with FPPI's approvals from regulators on April 2, 2010 represents a significant milestone in the project's development and is also an example of why the name change would serve the interests of the shareholders and marketplace.
About EmberClear Inc.
EmberClear Inc. ("EmberClear") is an investment company focused in the clean energy technology industry. EmberClear aims to accelerate the adoption of technologies enabling dramatic improvements in the efficiency and cleanliness of fossil fuel consumption. EmberClear's goal is to find economically viable business models with the potential to deliver reduced emissions of over 50% when compared to industry average results.
EmberClear has a strategic investment in Future Fuels Pennsylvania Inc. (FPPI). FPPI is a joint venture of Future Fuels LLC of Houston, Texas and EmberClear Inc. Houston-based Future Fuels LLC develops clean coal gasification projects and holds land, coal reserves, technology licenses and other project related assets. FPPI's Good Spring IGCC is one of the power projects being developed by Future Fuels, which is currently developing similar projects in other parts of the world. For more information please visit www.emberclear.com
As previously announced EmberClear proposes to spin out the camera business, Immersive Media, this is subject to numerous approvals and conditions, including TSX Venture Exchange approval. Immersive Media is the pioneer and leading provider of 360-degree, full-motion, interactive video experiences. Its one-of-a-kind geodesic camera and full production services -including rental equipment, training, filming, post-production and distribution options - create high-resolution, immersive video for a variety of uses. From mapping and exploration to monitoring and surveillance to branding and entertainment, Immersive Media customers and agents produce the deepest, most engaging video experiences possible. For information please visit www.immersivemedia.com
Safe Harbor for Forward-Looking Statements
Certain statements contained in this press release (including statements about the timing for the common shares to begin trading on the TSX Venture Exchange, the Corporation's intention to increase its efforts in developing energy related technologies to where it may represent the vast majority of the business and the Corporation's intention to find economically viable business models with the potential to deliver reduced emissions of over 50% when compared to industry average results) are forward-looking statements under applicable securities laws, and EmberClear Inc. intends that such forward-looking statements be subject to the safe harbor created thereby. Forward-looking statements are subject to numerous assumptions and risks and should not be unduly relied upon as EmberClear can provide no assurance that the expectations contained in such forward-looking statements will materialize as anticipated or at all. Such assumptions and risks include the ability of the Corporation to successfully increase its efforts in developing energy related technologies, the ability of the Corporation to find businesses requiring investment and willing to accept such investment on terms satisfactory to the Corporation, the ability of the Corporation to fund such investments and the ability of such businesses to deliver reduced emission. Except as required by applicable securities laws, EmberClear Inc. does not undertake an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
(C) 2010 EmberClear Inc. All rights reserved.
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SOURCE IMMERSIVE MEDIA CORP.
For further information: For further information: David G. Anderson, Chief Financial Officer, Tel: (403) 264-8817