Vancouver, CANADA / TheNewswire / Dec. 31, 2018 - Imagination Park Entertainment Inc. (CSE: IP) (OTC: IPNFF) ("Imagination Park" or "Company") is pleased to announce the annual results for the year ended August 31, 2018. Copies of the audited consolidated Financial Statements, the Management Discussion and Analysis and related notes to the financial statements can be found on the Sedar website at www.sedar.com.
Alen Paul Silverrstieen, CEO of Imagination Park, stated "we are excited about the future of Imagination Park. The acquisition of XenoHolographic Inc. this year has shifted the Company's focus from a digital film production company to the advancement of our augmented reality platform. The XenoPlayTM mobile app through its XenoHolographic suite of products bridges the gap between the real world and digital world by allowing users to scan real world objects to unlock useful and entertaining content. The Company generates revenue by charging users an annual recurring licensing fee for the use of the mobile app."
He continued by saying "according to BusinessWire, the global augment reality and the virtual reality market is estimated to be worth $60 billion by 2023 and grow at a CAGR of 40% from 2017 to 2023. We feel the Company is in a unique position to take advantage of growth in this grass roots innovative industry which will revolutionize the way brands engage with their customers".
About Imagination Park
Imagination Park Entertainment creates engaging and interactive holographic content delivered by its cloud-based augmented reality enterprise platforms. The Company provides augmented reality products for mobile phones and wearable headsets, as well as rapid deployment of AR solutions, without the need for developers, while integrating artificial intelligence.
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.