ImagineAR Inc (IP)

[Sam Dan]

Another project announced today-Promising arrangement
Vancouver, BC – July 19, 2016 – Imagination Park Entertainment Inc. (CSE: IP) (“Imagination Park”) is pleased to announce that it has entered into an agreement with 150 Films Inc. (“150 Films”). 150 Films is the sole and exclusive owner of all rights in and to a short film presently entitled “Adventure Kids” and a feature length screenplay written and directed by Geoff Anderson.

Adventure Kids is a science fiction adventure fantasy set in the present day and follows a young boy with a big imagination who needs to help his father keep his farm. With cutting edge visual effects and action, the story appeals to every adventurer, big or small, young or old, proving that with a great imagination, a generous heart, and a resourceful mind, anything is possible.
Imagination Park is thrilled to welcome this new family-friendly fantasy project to its growing feature film portfolio:
“Adventure Kids is another unbelievable opportunity for us, and we are very fortunate to be able to work on this exciting new project,” says Imagination Park CEO & Director Gabriel Napora, adding, “I am stunned at what an incredible story the screenplay shares. We believe this project is destined to be an audience and industry favourite.”
Imagination Park Director Yas Taalat says, “the Adventure Kids Creator and Director, Geoff Anderson has put together an amazing story. Everything about this project is fantastic and will appeal to the aspiring adventurer in all of us.”
Terms of the Agreement
The agreement provides that Imagination Park has the exclusive right to develop, package, and promote Adventure Kids for the purpose of developing the project into one or more television series or motion pictures. Imagination Park has the exclusive right to negotiate and enter into agreements with studios for the development, production, and distribution of the project for a period of 24 months. Imagination Park may also extend the term for another 12 months if it is in active negotiations with a studio at the time the term is due to expire.
If Imagination Park secures a studio agreement to develop the Adventure Kids project, Imagination Park will be entitled to receive a sales fee of 50% of any monies advanced by the studio in connection with the agreement. Imagination Park will also be entitled to 50% of all contingency compensation owing to 150 Films and Mr. Anderson in connection with Adventure Kids, on a continuing and rolling basis.
Imagination Park will be a producer and Mr. Anderson will serve as Director of any production based on the Adventure Kids project. In addition, Imagination Park has the exclusive right of first refusal to provide similar services in relation to Mr. Anderson’s next creative project.

About Imagination Park
Imagination Park is an emerging digital content production company, working with talented filmmakers around the world to bring conventional as well as virtual reality content to life.
For more information or to explore working with Imagination Park, please call778.892.9695 or email [e-mail].
For a full summary on Imagination Park’s project portfolio, please visit Imagination Park’s new website at www.imaginationpark.com.

Read more at http://www.stockhouse.com/companies/bullboard/c.ip/imagination-pk-entmt-inc#zyQjV5g2AioTiYcS.99