Imagination Park to Shift Exclusive Focus to Cloud-Based Enterprise Augmented Reality Platform
Acquisition of the XenoHolographic Product Development Team
Vancouver, CANADA – September 17, 2018 – Imagination Park Entertainment Inc. (CSE: IP) (OTC: IPNFF) (“Imagination Park” or the “Company”), an augmented reality (“AR”) cloud software provider, is pleased to announce it has recently completed its XenoHolographic Inc. transition to now solely focus on providing the XenoHolographic Product Suite, one of the first platform-agnostic, cloud-based AR enterprise platforms in the world. With the recent acquisition of XenoHolographic, Imagination Park owns 100% of all right, title and interest in all of XenoHolographic’s IP and technology and plans to immediately move to monetize these assets.
In supporting this transition, the Company has significantly reduced its involvement and investment in film content. Under the restructuring, remaining content staff will focus on content for the augmented reality software.
Acquisition of the XenoHolographic Product Development Team
The acquisition of XenoHolographic has brought with it the addition of Chief Product Officer, Rodney Guzman, and six new full-time developers to the Company’s XenoHolographic California office. Chief Strategy Officer, Tim Huckaby, will be working closely with the development team and Imagination Park to promote, market and sell the XenoHolographic Product Suite throughout North America. Imagination Park is already in licensing discussions with customers and partners, allowing them to upload, manage and deploy their AR content.
“AR has been talked about for a long time, but until XenoHolographic Product Suite, AR was hard to create, manage, and deploy,” said Mr. Guzman. “With my team now focused full-time on our AR platform, we are rapidly adding new features as the market quickly evolves. This next year is going to be exciting as we execute against a full product roadmap.”
Alen Paul Silverrstieen, CEO of Imagination Park, said: “With a full-time dedicated senior development team overseeing our cloud-based enterprise AR platform solution, Imagination Park is now positioned to add further market-leading enhancements to our software. Additionally, we are currently pursuing new strategic partnerships and opportunities with leading brands interested in using AR to enhance customer engagement.”
About XenoHolographic Product Suite
The XenoHolographic Product Suite is a software platform that enables brands and companies to be able to easily and quickly upload and manage AR campaigns from start to finish. This includes:
- XenoCloud - AR cloud content management system
- Automatic conversion of 3D objects into portable AR objects for iOS and Android
- Mobile app for fast and simple setup of AR activations
- Support for marker and marker-less (location-based) AR activations
- Virtual AR-based scavenger hunts, all configurable in XenoCloud
- Consumer engagement reporting
Brands can now develop interactive AR content and measure and understand how users engage with the brand through their mobile devices. Brands can use this information to further develop or refine content, redeploying through their preferred channels including: games, scavenger hunts, bringing packaging to life, playing a movie trailer when the phone is place over a poster, and much more.
Focus on Pilots, Partnerships and Customer Onboarding
Year-to-date, Imagination Park has booked revenue of approximately $800,000 with the majority of this revenue coming from film production. Going forward, the Company is in discussions with a number of potential partners that may lead to growth in the XenoPlay user base. The Company is also presenting to various brands across a variety of end markets that are showing interest in using the platform to interact with their customers and prospective customers.
About Imagination Park
Through its wholly-owned subsidiary, XenoHolographic, Imagination Park creates novel holographic content and provides augmented reality products for phones and wearable headsets, as well as rapid deployment of AR solutions, without the need for developers, while integrating artificial intelligence (AI) and Blockchain.
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
(818) 850-2490
Contact
Sean Peasgood
Investor Relations
(647) 560-9201
sean@sophiccapital.com
https://www.facebook.com/imaginationparkentertainment/
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.
