VANCOUVER, BC and ERIE, Pa., July 27, 2020 /CNW/ - ImagineAR Inc. (CSE: IP) (OTC: IPNFF) ("ImagineAR" or "Company") an Augmented Reality Company that enables sports teams, businesses, retailers and organizations to instantly create their own AR mobile campaigns, wishes to advise investors it has been put on notice by a major North American sports & entertainment company ("NASEC") that a contract is imminent.
As with all large commercial contracts, the Company wants to clearly state there is a risk this deal may not close and cannot yet provide any assurances that it will close. However, ImagineAR is of the opinion that all major hurdles have been dealt with and the path is now clear to contract. Given the size of the NASEC and potential time necessary between our recent notification and actual completion of an agreement, ImagineAR felt this is sufficiently material news that warrants immediate disclose to our shareholders, even before the formal contract is awarded.
Alen Paul Silverrstieen stated "We are taking the extraordinary step of advising our shareholders of an imminent material agreement with NASEC because we now expect it to be formalized in short order. I want to emphasize that no formal agreement has been executed and that we cannot provide any potential dates for or assurances of completion."
DISCUSSIONS WITH MAJOR BRANDS AND RETAILERS FOR AUGMENTED REALITY SOLUTIONS TO ENGAGE AND ACTIVATE CONSUMERS
ImagineAR is taking this opportunity to advise shareholders that we are in various stages of discussions with several major brands and retailers, which recognize the important role our Company's augmented reality solution can play in delivering both consumer engagement and activation during this unprecedented time. Though none of these discussions have risen to the imminent status of NASEC, the Company can confirm that some are at advanced discussion stages.
IMAGINEAR JOINS GLOBAL SPORTS AND INNOVATION CENTER
ImagineAR has just joined the GSIC (Global Sports Innovation Center) powered by Microsoft with headquarters in Europe. Earlier this month, ImagineAR was one of the 16 top-ranked start-ups of the 2020 WFS StartCup by GSIC World Football Summit and Global Sports Innovation Center and presented its fan engagement augmented reality platform to the judging panel. Finalists are expected to be announced on July 27, 2020.
The GSIC facilitates synergies and provides its partners with value-added services that enable sports entities and companies to grow and develop with the help of experienced professionals in different environments such as finance, innovation and product development.
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.
Global Sports Innovation Center powered by Microsoft (GSIC) is a business cluster powered by Microsoft Sport Team that gathers all kind of sports entities (clubs, federation, associations), institutions, tech-companies (from start-ups to enterprises), research organizations, investors and key figures of sport industry to improve its value chain. To do so we focus our activities and services on 6 main points: entrepreneurship, networking, applied research, showcase, Microsoft Partners Solutions and digital transformation advisory services. More than 340 companies from 38 different countries have already received support from the GSIC through different activities, as well as from their ambassadors and network of professionals of the sports industry.
More information at: http://sport-gsic.com/
ImagineAR Inc. (IP:CSE) (IPNFF:OTCQB) 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. The AR Platform is available as an SDK Plug-in for existing mobile apps.
All trademarks of the property of respective owners.
ON BEHALF OF THE BOARD
Alen Paul Silverrstieen
President & CEO
This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond ImagineAR's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although ImagineAR believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, ImagineAR does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of ImagineAR should be considered highly speculative. There can be no assurance that ImagineAR will be able to achieve all or any of its proposed objectives.
Neither the CSE Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: or to explore working with ImagineAR, please email email@example.com, or visit www.imagineAR.com