Tuesday, June 05, 2001 1:54:44 PM
Illusion Systems Inc. (the "Company") (CNDX:ILU) announced today that JumpZone!™ was installed at Premier Parks' Six Flags Fiesta Texas in San Antonio, Texas, Six Flags Great Adventure in Jackson, New Jersey, and Six Flags St. Louis in Eureka, Missouri on the respective dates: March 8, 2000, April 11, 2000, and June 7, 2000. lllusion Inc. is pleased to continue their business venture with Ferris Productions Inc., in which Ferris will include and operate Illusion's JumpZone!Ô equipment in Ferris' Virtual Reality Centers. Ferris Productions has already experienced phenomenal success at Six Flags Fiesta Texas with their Virtual Reality Center, and they know that the inclusion of JumpZone!ä will only heighten the center's popularity. Lance Loesberg states, "We are bringing JumpZone!ä to our Virtual Reality Centers because we are so confident in its crowd-pleasing potential."
Premier Parks is the world's largest regional theme park company, with 34 parks throughout North America and Europe. Premier Parks focuses on customer satisfaction, and strives to include attractions, like JumpZone!ä, that will excite guests.
Six Flags Great Adventure, Six Flags Fiesta Texas, and Six Flags St. Louis have been ranked in Amusement Business' "1999 Top 50 North American Amusement/Theme Parks". Six Flags Great Adventure was ranked tenth, with an annual attendance of 3,800,000. Six Flags Fiesta Texas was ranked twenty-fifth, with an annual attendance of 2,451,000. Finally, Six Flags St. Louis was ranked thirty-second, with an annual attendance of 2,059,000. Peter Beale says, "We are very excited to be working with a top company like Premier Parks, and look forward to continued business together."
Ferris Productions, Inc., a leading developer of high-tech products and systems for the out-of-home entertainment industry, plans to install virtual reality centers in many theme parks and large entertainment centers throughout the country.
Closing of the Company's reverse merger agreement with Illusion Inc. is expected to be concluded in the first few weeks of July 2000 when continuation of the Company into the USA and a prospectus issue is planned to be completed. In anticipation of the prospectus offering, the Company closed a CDN $300,000 one-year bridge loan on June 19, 2000 that will be advanced to Illusion Inc. The bridge loan agreement provides for interest only at 8% per annum and payment of a 20% bonus in the form of Lender's Special Warrants to be issued to the lenders at a deemed CDN $0.60 per share.
Los Angeles-based Illusion Inc. is a supplier of creative and technical services and products to the entertainment and simulation industries, and draws on the backgrounds of its founders in introducing film-based simulation to the amusement industry and developing virtual-reality simulation training for the United States military.
For further information, visit the Company's Web Site at www.illusionsystemsinc.com. or call:
Van Nuys, California Office Vancouver, B.C. Office
Tel (818) 947-3979 Tel (604)-685-1251
Fax ((818) 947-3973 Fax (604) 685-5198
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
This news release contains forward-looking statements based on current expectations that involve risks and uncertainties. The Company's actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include risks surrounding the closing of the merger transaction, the development of the emerging market for in-home and out-of-home virtual reality rides and other products of Illusion Inc., the timely development, production, and market acceptance of new products, the Company's ability to compete in a rapidly changing marketplace, and domestic and foreign economic conditions generally. The Company assumes no obligations to update the forward-looking information contained in this release.
CDNX has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
http://www.illusioninc.com/pressreleases/june_20_00.html
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