Imagination Park Entertainment Set to Partner with Insane Comics to Create Exclusive New Content
Vancouver, BC – September 20, 2017 - Imagination Park Entertainment Inc. (CSE: IP) (OTCQB: IPNFF) (“Imagination Park” or the “Company”) is pleased to announce the execution of a letter of understanding (“LOU”) for the joint development of short films and proof of concepts (“POCs”) with Insane Comics, LLC (“Insane Comics”), a publisher of creator-owned works of art in the comic book industry.
With an ever growing comic book-themed film and television industry, Imagination Park is very pleased to now have access to a boundless suite of comic book intellectual property including, among other things, printed books, treatments, conceptual art and graphics. This partnership allows both companies to capitalize on a growing trend while delivering some of the most unique stories and content worldwide.
Imagination Park works with some of the world’s top storytellers to create immersive and compelling visual content for film, virtual reality, augmented reality and mixed reality. Now, partnering with Insane Comics, the Company expects to cross promote and increase awareness of each other’s brands, while widening Imagination Park’s ability to bring respective fans together. Insane Comics brings forth some of the most distinctive stories being produced today. Insane Comic’s unique characters as well as imaginative worlds and stories will now have a larger voice. Properties are anticipated to be brought to life on the big screen and to build new cinematic universes.
The LOU provides for the exclusive joint development for certain properties owned or controlled by Insane Comics as short films or POCs by Imagination Park for a fee to be negotiated at the time of development. Along with these development rights, Insane Comics has provided Imagination Park with an exclusive right of first refusal over new and existing materials for potential POCs in the future. On all productions pursued by Imagination Park, the POCs or short films will be the exclusive property of Imagination Park. All decisions with respect to technical, business, financial and legal matters in respect of all such productions will be at the sole discretion of Imagination Park. Further, Imagination Park will have the exclusive right to negotiate and enter into agreements with studios, financiers, investors and potential showrunners for the development, production and distribution of all creations. This includes activities such as the exclusive right to shop and pitch POCs to studios, commission scripts and the sole and exclusive right to enter into studio agreements for Insane Comic’s chosen properties.
“Imagination Park, at its core, is a storytelling company. Cultivating that philosophy, we are proud of the opportunity to partner with Insane Comics, a company that pushes the art of storytelling with world class creators and artists. This is truly a perfect fit for us and something we are thrilled and excited about. Together we are about to push the limits of imagination to the next level” stated Yas Taalat, Imagination Park’s Chief Creative Officer.
Gabriel Napora, Imagination Park’s Chief Strategy Officer, added “It took some time to complete this deal because James Munch, CEO of Insane Comics, had many offers and he took his time to ensure he partnered with someone with a vision that worked cohesively to his own. We are ecstatic that Imagination Park gets to team up with Insane Comics to create, what we believe could be, the next great film franchises.”
Finally, James C. Munch, CEO of Insane Comics, stated “We have been approached in the past by other companies that unsuccessfully bid for our product line, but it was different with Imagination Park. As our conversations progressed, Imagination Park laid out a vision matching our own and we are excited about the possibilities we are about to unleash.”
About Insane Comics: Insane Comics has published more than one hundred twenty books under sixty different original properties in the past two years including Hollow Girl, Death Rattler & Chess-Masters. They continue to grow in development and also have gained a strong fan base across the world through social media presence and by attending comic conventions across the United States. It is the intent of Insane Comics to bring forth the best of creator owned works of art that is fresh and exciting by working with industry legends and new talent on the verge of being discovered.
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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 with an office in Studio City, Hollywood, California. Imagination Park has recently expanded into the China market and also maintains local executive representation.
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ON BEHALF OF THE BOARD
Alen Paul Silverrstieen
President & CEO
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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.