ImagineAR signs binding letter of intent with 4Front Development New York City Get a minority share of FameDays
Vancouver, British Columbia, June 26, 2023 /CNW/- Imagine AR (CSE: IP) (OTCQB: IPNFF), an augmented reality company that enables sports teams, brands and businesses to instantly create their own immersive AR experiences, today announced that its wholly owned subsidiary FameDays has been selected by 4Front Development (“4 front”) as technical project leader for a newly planned immersive entertainment center within the Southern State Tourism and Residential District U.S. (the project”). In addition, ImagineAR signed a binding letter of intent (“interest index”) in partnership with 4Front, whereby 4Front will acquire a minority stake in FameDays Inc. (“trade“).
The 4Front development is expected to include a hotel, residences and an entertainment park southern america. Current plans include a 50,000-square-foot interactive entertainment center offering state-of-the-art experiential activities for adults and children. FameDays, led by CEO Alen Paul Silverrstieen, intends to offer a destination mobile app and work with global suppliers to develop immersive entertainment, virtual and augmented reality and mixed reality experiences in futuristic indoor theme park designs. The project is expected to open to the public in autumn and winter 2024.
Chris EddyCo-Founder of 4FRONT DEVELOPMENT said: “We have been focusing on large-scale projects integrating hospitality, entertainment and technology. After nearly two years of hard work, we are ready to plan, finance and build this new 2100-acre commercial district and southern residential project U.S. It will include 1,168 hotel rooms, a rental and apartment complex, townhomes, single-family homes, and indoor and outdoor water parks and an immersive entertainment center.work closely with alan paul Over the past year, we selected FameDays as a major technology project leader to develop one of the most advanced immersive entertainment centers integrated with mobile technology and deliver a true next-generation experience to consumers.Our plan is to partner with other selected cities U.S. Provide future technology entertainment center, energy, transportation and infrastructure. ”
Alen Paul Silverrstieen, CEO and co-founder of ImagineAR and FameDays, said: “We are honored to have been selected for the technology project led by Chris and his team at 4Front Development. Our strategy was to design a futuristic immersive entertainment destination with a unique experiential games, interactive art and music utilizing augmented reality, mixed reality, 360-degree projection, motion capture and artificial intelligence. This is our company’s transformation from a mobile AR platform to a global provider of immersive entertainment for consumers, and Generating new revenue streams.”
Both parties signed a binding letter of intent June 23, 2023Under the agreement, FameDays will be the exclusive mixed reality, augmented reality, virtual reality and immersive experience vendor and provider for the project.
4Front will lead fundraising efforts for at least $2 million (“Finance”) in FameDays. Upon closing of the financing, 4Front will exclusively award and designate FameDays for all current and future 4Front developments and partnerships, as well as any other mixed reality, augmented reality, virtual reality and immersive experience vendors and providers for which 4Front will invest in the future. Development production. In exchange for the stated exclusivity and financing, FameDays will issue to 4Front Development common stock equivalent to 49% of the issued and outstanding common stock of FameDays Inc. following the financing.
About 4Front Development LLC
4 front-end development is a New York-based firm that specializes in helping startups and established companies achieve and grow their scope, mission, and goals. 4FRONT facilitates meeting the needs and aspirations of our clients and partners by providing real estate, financial and business development strategies and solutions. 4FRONT’s focus areas include renewable energy, entertainment, hospitality, medtech, insurtech, education, commercial and residential real estate development, disaster relief and cryptocurrency.
Imagine AR Inc. (CSE: IP) (OTC: IPNFF) has developed an “AR-as-a-service” platform that enables sports teams and organizations of any size to create and implement their own AR events without programming or technical experience. Every organization, from professional sports franchises to small retailers, can use ImagineAR to develop interactive AR campaigns that blend the real and digital worlds together. Customers can instantly interact with videos, information, ads, coupons, 3D holograms and any interactive content by simply pointing their mobile devices at logos, signs, buildings, products, landmarks and more, all hosted in the cloud and Manage using a menu-driven portal. Integrated real-time analytics means all customer interactions are tracked and measured in real-time. ImagineAR mobile app is available on IOS and Android mobile app stores. The platform is available as a native mode SDK.
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represent the board of directors
i’m going to paul sierti
President and Chief Executive Officer
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