ImagineAR (OTCQB: IPNFF) Announces New Three Year $380,000 Partnership with Global Sports Initiatives

Rhea-AI Summary

ImagineAR (CSE: IP) (OTCQB: IPNFF) has secured a new three-year partnership with Global Sports Initiatives (GSI) valued at $380,000 along with revenue sharing. This follows their earlier strategic alliance announced on February 16, 2021. The partnership aims to enhance fan engagement via AR technology and digital collectibles, including NFTs. In less than 30 days, the collaboration generated $750,000 for ImagineAR, contributing to over $1 million in total bookings for 2021. Additionally, ImagineAR has raised $1,543,073 from warrant exercises, ensuring sufficient funds for the year.

Positive

• New three-year partnership with GSI valued at $380,000 plus revenue sharing.
• Generated $750,000 in revenue in less than 30 days from the partnership.
• Total bookings exceeded $1 million within the first 90 days of 2021.
• Raised $1,543,073 from warrant exercises, indicating strong liquidity.

Negative

• None.

GSI Delivering Interactive Immersive AR Experiences & NFT's for Sports Legends

VANCOUVER, BC, March 23, 2021 /PRNewswire/ - ImagineAR (CSE: IP) (OTCQB: IPNFF) an Augmented Reality Company that enables sports teams, brands and businesses to instantly create mobile phone AR immersive engagement campaigns, is pleased to announce another new three year agreement with Global Sports Initiatives (GSI).  This three-year ImagineAR white-label mobile app agreement is for a $380,000 guarantee plus revenue sharing.  ImagineAR and GSI initially announced their strategic partnership on February 16, 2021 and jointly announced the World Tens Series three-year partnership agreement March 1, 2021. GSI markets "digital infrastructure as a monetization service" to Sports, Esports, and Leagues throughout the world.

Kevin Meredith, Chief Executive Officer of Global Sports Initiatives, stated "GSI is expanding globally and further strengthening our relationship with ImagineAR.  We will be leveraging our own branded App as a hybrid AR social and streaming media platform for fan engagement with teams and athletes that launch channels within to drive new revenue opportunities while they maintain their own data. Additionally, we will be working with Oasis Digital Agency to deliver exclusive AR Enhanced NFT's for our clients as one of those new revenue opportunities which provides that platform to monetize this new digital collectible all in one place."

"Our strategic partnership with GSI has developed quickly and has generated over $750,000 within 30 days plus future revenue sharing for ImagineAR," said Alen Paul Silverrstieen, CEO and President of Imagine AR. "Kevin and his team at GSI have significant global relationships in the sports world and have implemented a strategy to become a leader in delivering content monetization solutions for sports teams, franchises, and venues."

Silverrstieen continued "With this executed three-year agreement, ImagineAR has exceeded $1 million total bookings for Calendar year 2021 within 90 days of the start of the year. We are optimistic we will drive many new revenue opportunities this calendar year. The NFT market opportunities for GSI will be delivered by our Oasis Digital Agency which we partnered with Liquid Avatar ".

Warrant Redemption

In the last 60 days, ImagineAR has received $1,543,073 of warrant exercises.

According to Alen Paul Silverrstieen, CEO, "The company is fully cashed up and will not require any further financing for 2021".

This press release is available on the Company's AGORACOM Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.

About Global Sports Initiatives

Global Sports Initiatives, Inc, ("GSI") markets to Sports, Esports, and Leagues throughout the world to create exponentially advanced novel revenue streams by cost efficiently transitioning stadiums and venues into "Smart" content production studios. Our "digital infrastructure as a monetization service" leverages best of breed technology through multi-modal interactions across multi-media platforms distributed globally. GSI provides the future of fan engagement with athletes, teams, leagues and their sponsors. To learn more about Global Sports Initiatives, Inc. please email kevin@globalsportsinitiatives.com or visit: https://globalsportsinitiatives.com

About ImagineAR
ImagineAR Inc. (CSE: IP) (OTC: IPNFF) 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
(818) 850-2490
https://twitter.com/IPtechAR
https://www.facebook.com/imaginationparktechnologies
https://www.instagram.com/iptechar
https://www.linkedin.com/company/imagination-park-technologies-inc

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Information and Statements

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but is not limited to, information concerning the ability of the Company to generate revenues, roll out new programs and to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

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SOURCE ImagineAR

FAQ

What is the value of ImagineAR's new partnership with Global Sports Initiatives?

The new partnership is valued at $380,000 plus revenue sharing.

How much revenue did ImagineAR generate from the partnership with GSI in 30 days?

ImagineAR generated $750,000 within 30 days from the partnership with GSI.

What are the total bookings for ImagineAR in 2021?

ImagineAR's total bookings exceeded $1 million within the first 90 days of 2021.

How much money did ImagineAR raise from warrant exercises recently?

ImagineAR raised $1,543,073 from recent warrant exercises.

Is ImagineAR requiring any additional financing in 2021?

No, ImagineAR stated that the company is fully cashed up and will not require further financing for 2021.