XRApplied Signs MOU with L.A.’s Haibu Media Corp

Rhea-AI Summary

XRApplied Technologies Inc. (CSE: XRA) announced a partnership with Haibu World, a children's entertainment group, to produce augmented reality (AR) and virtual reality (VR) experiences. The partnership includes a revenue-sharing model for online sales and aims to launch a new mobile app featuring educational AR games and content based on the Haibu brand in early 2022. Both companies view this collaboration as a means to promote conservation education through technology. A definitive agreement is expected to be finalized by the end of the year.

Positive

• Partnership with Haibu World enhances XRA's market presence in children's entertainment.
• Revenue share model established for future online sales.
• Launch of AR/VR experiences expected to drive engagement and educational content.

Negative

• None.

VANCOUVER, British Columbia, Nov. 15, 2021 (GLOBE NEWSWIRE) -- XRApplied Technologies Inc. (“XRA” or, the “Company”) (CSE: XRA) The Company is pleased to announce the signing of MOU to enter into a partnership with Hollywood’s Haibu World children’s entertainment group to support them in all their AR/VR experiences. XRA will co launch a series of AR/VR experiences around the Haibu brand which is expected to launch early 2022. These will include a mobile App offering a daily affirmation, Children’s education AR games and interactive AR experiences with the Haibu books and website. The MOU outlines a revenue share model for online sales and a development partnership for AR/VR experiences. The Company’s hope to complete a definitive agreement before the end of the year.

Tara Price, Chief Content Officer of The Haibu World, said: "We are excited to be partnering with XRA to deliver high quality AR functional games and experiences to our expanding customer base. We feel this partnership is vital in our effort to use technology to continue to educate the world on the conservation of wild animals."

About Haibu World
Haibu’s World, is a technology driven children’s franchise studio, with assets consisting of a series of award-winning books, feature films, animated TV series, multiple children’s adventure zones, merchandise, toys, a live musical, and multiple video games invoking thought and positive change in the world of animal and environmental conservation. The empowerment story of Haibu, is about a little girl with the unique gift to speak to animals. She uses her gift to battle the evil forces that threaten the well being of all wild animals.  Haibu is the voice for the voiceless

About XRApplied Technologies Inc. (XRA)
XRA is an immersive technology solutions provider that specializes in bringing cost-efficient AR/VR e-commerce applications to large and small businesses including the Metaverse. We accomplish this through a suite of proprietary products and services (AR catalog, toy gamification, AR App e-commerce, AR/VR interactive games) that we bring to the masses via our exclusive XRA Marketing Platform

Further information about XRApplied is available under its profile on the SEDAR website, www.sedar.com, on the CSE website, www.thecse.com, and the Company’s website, www.xrapplied.com

For Further information about the Company, please contact:        
Alexandria Stone
Spyrock Consulting Inc.
Telephone 604.351.6259
Email: ir@xrapplied.com

Neither the Canadian Securities Exchange nor its regulation services provider have reviewed or accept responsibility for the adequacy or accuracy of this press release.

Forward-Looking Information:
This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks discussed in the Company's Management's Discussion and Analysis under the Company's profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any time.

 

FAQ

What is XRApplied Technologies' recent partnership about?

XRApplied Technologies partnered with Haibu World to develop AR/VR experiences aimed at children's education and conservation.

When are the new AR/VR experiences expected to launch?

The new AR/VR experiences are expected to launch in early 2022.

What are the financial implications of XRA's partnership with Haibu World?

The partnership includes a revenue share model for online sales, potentially increasing financial returns for XRA.

What educational content will be included in the new XRA app?

The app will feature daily affirmations, educational AR games, and interactive experiences based on Haibu's books.