Immersive Media Receives Shareholder Approval for Company Name Change and
Elects Non-Executive Board Member

CALGARY, March 9 /CNW/ - Immersive Media Corp. (TSXV: IMC) ("Immersive Media" or "IMC") announces that it has received shareholder approval at the Annual and Special Meeting of Shareholders for all resolutions put to shareholders. Included in the items voted on was the approval of the proposal that the company name be changed to "EmberClear Inc." and the reconstitution of the Board of Directors in preparation for the proposed spin-out of the camera business as previously announced.

Messrs. Myles McGovern and Mead Treadwell have stepped down as directors. Immersive Media's board, management and staff would like to thank Mr. Treadwell for his multiple years of service as Chairman of the Board. Immersive Media is grateful for both Mr. Treadwell and Mr. McGovern for their years of service as board members of Immersive Media. Mr. McGovern will continue as the president & chief executive officer of Immersive Media until the proposed spin-out is completed. For the proposed spin out of the camera related business, Mr. McGovern is anticipated to serve as the president and chief executive officer and Mr. Treadwell the Chairman of the Board.

Immersive Media's shareholders also elected a new non-executive director, Mr. Peter Kinash, to its Board at the shareholders' meeting.

Mr. Kinash, a non-executive director, is a Chartered Accountant who has spent the past 20 years working and volunteering in the Alberta technology sector and is currently an advisor, mentor or investor helping technology companies in Calgary, mainly in the areas of strategy and finance. Mr. Kinash is CFO of successful Calgary based software company Replicon Inc., the world leader in web based time tracking solutions for project oriented organizations.

Mr. Kinash's corporate career includes serving on the Boards of Directors of Computer Modelling Group (TSX:CMG) and Chartwell Technology (TSX:CWH) and as CFO of Wi-LAN Inc. (TSX:WIN), and three other public technology companies.

Prior to joining Wi-LAN in January 2000, Mr. Kinash led the Calgary technology practice of KPMG, assisting a wide range of technology companies with issues related to strategy, alliance partners, financing, people, securities and tax issues in Canada and the US. Mr. Kinash is a Chartered Accountant and graduated with Distinction from the University of Saskatchewan in 1977 with a B.Comm degree.

The Board changes are in preparation for the proposed spin-out of the camera business as previously announced. Directors re-elected to Immersive Media's Board included: David Anderson, chief financial officer of Immersive Media, Harry S Campbell, former Managing Partner of law firm Burnet, Duckworth & Palmer LLP (Calgary), Winston Guillory, an independent consultant, Albert Lin, Managing Director of Sooner Cap, LLC., and, Geoff Rhoads, co-founder of Venture Ad Astra, LLC.

The change of Immersive Media's name to "EmberClear Inc." is subject to the approval of the TSX Venture Exchange. The proposed spin-out of Immersive Media's camera business is in the early stages of planning and is subject to numerous approvals and conditions, including TSX Venture Exchange approval. Immersive Media will update the market as developments occur.

About Immersive Media Corp.

IMC 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.

IMC has a strategic investment in Future Power PA Inc. (FPPI). FPPI is a joint venture of Future Fuels LLC of Houston, Texas and Immersive Media Corp. Houston-based Future Fuels LLC develops clean coal gasification projects. It 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

Safe Harbor for Forward-Looking Statements

Certain statements contained in this press release (including statements about the proposal to change the IMC's name and to spin out IMC's camera business) are forward-looking statements under applicable securities laws, and Immersive Media Corp. 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 IMC 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 IMC to obtain all necessary approvals and satisfy all necessary conditions that will be necessary to change IMC's name and spin-out the camera business. Except as required by applicable securities laws, Immersive Media Corp. 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 Immersive Media Corp. All rights reserved.

All other trademarks are the property of their respective owners.

%SEDAR: 00021691E


For further information: For further information: David G. Anderson, Investor Relations, Tel: (866) 333-8817

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890