Imagination Park Announces XenoHolographic Website Goes Live October 25th - First Augmented Reality Products Launching Next Month

Vancouver, B.C. – October 20, 2017 – Imagination Park Entertainment Inc. (CSE: IP) (OTCQB: IPNFF) ("Imagination Park" or "Company") is pleased to announce that XenoHolographic Inc., a joint venture with Interknowlogy, LLC, is launching its official company website www.xenoholographic.com on October 25, 2017.

 

XenoSideKick® and Showroom®

 

Tim Huckaby, director of XenoHolographic and Chairman of Interknowlogy stated: "we view our newly launched website as a vital communications tool for our augmented and mixed reality software products and are extremely excited to be able to, for the first time, provide premium dynamic and illuminating models of our unique solutions for the upcoming technology revolution."

 

XenoHolographic's premier products, XenoSideKick® and Showroom®, will be introduced to the global marketplace in November.  XenoSidekick® enables major manufacturers' headsets to deliver consistent holographic interactions. Additionally, our Mixed Reality Showroom® product will allow major brand companies and advertisers to integrate 3D holographic images with AR headsets.  The Mixed Reality Showroom® is established to impact viewers by drawing them deeper into engaging experiences and will additionally support an advertiser's existing 3D content.  The solution includes a cloud-based content management system for 3D holographic images automatically downloaded to AR headsets and rendered dynamically.

 

Corporate Update

 

The Company announces that Timothy Marlowe has resigned as a director of the Company.  The Company wishes to thank Mr. Marlowe for his contributions and wishes him the best in all his future endeavors.

 

Additionally, the Company announces, as a result of a review by the British Columbia Securities Commission, it would like to clarify its disclosure for certain items related to previously filed interim financial statements ("Financial Statements") and related management's discussion and analysis ("MD&A") for the three and nine months ending May 31, 2017. The Company has filed amended and restated Financial Statements and MD&A, copies of which are available and can be viewed at http://www.sedar.com under the Company's profile.

 

The amended and restated financial statements include the following changes.  The Company corrected the fair value of shares issued for debt and for net profits interest acquired.  The Company also reallocated meals and entertainment costs out of shareholder communications and promotion expenses and moved them to travel and accommodation expenses to be consistent with the comparative period disclosure.
 
 

The Company has also revised the amended and restated MD&A in order to comply with the disclosure requirements set out in Form 51-102F1 including:

 

·       the removal of certain market and industry data;

 

·       expanded disclosure in respect of related party transactions with members of the Company's Board of Directors, executive officers as well as companies owned or controlled by them, including the payment of management and consulting fees, the granting of share-based compensation, the payment of office and rent costs and other share issuances to such persons;

 

·       expanded and clarified disclosure in respect to the Company's arrangement with Ohmore Media Inc. ("Ohmore"), including the obligations of each party under the non-exclusive revenue agreement entered into between the Company and Ohmore and the terms upon which revenue is shared between the parties thereto, a copy of which can be found on the Company's profile on SEDAR, at www.sedar.com; and

 

·       a discussion and update in respect of subsequent events since the date of filing the prior version of the Company's management discussion and analysis, which is being replaced.

About Imagination Park

Imagination Park Entertainment Inc., a publicly traded company in Canada (CSE: IP) and the USA (OTC: IPNFF) is an emerging digital content production company, working with talented filmmakers around the world to bring conventional as well as virtual reality, augmented reality, and mixed reality content to life.  The Company headquarters are located in Vancouver, BC, Canada. Imagination Park has recently expanded into the China market and also maintains local executive representation. 
 

For more information or to explore working with Imagination Park, please email info@imaginationpark.com, or visit www.imaginationpark.com.

 

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 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.