Wonderful news for shareholders.Funding with no dilution of IP shares
[/bCHINA'S LARGEST MEDIA PLATFORM SIGNS HISTORIC AGREEMENT TO FUND IMAGINATION PARK FILMS
Imagination Park Entertainment Inc. has entered into an agreement with China's largest media content provider Ohmore Media Inc. to finance up to 12 short films including 360-degree virtual reality content, for premiere release on the largest new media platform in China.
Ohmore Media, partner of the Ergeng Network, achieves over 50 billion page views per month with more than 200 distribution channels. As one of the largest global content sites, Ohmore Media has agreed to finance up to 12 Imagination Park's Virtual Reality titles and short films.
The films will be in the popular science fiction/fantasy genre with several to be produced in China. Additionally, Ohmore Media Inc. maintains the right of first refusal to finance any feature films or TV series, which directly result from these original short film projects.
Director Yas Taalat stated "As original content providers, this agreement launches Imagination Park as a highly regarded global VR & short film company. Securing Ohmore as our partner in China, we can attract hundreds of millions viewers for our unique content as well as having the opportunity to convert these projects into full feature films or TV series with a powerful partner".
Tim Marlowe, President of Imagination Park added "The type of original content we produce is highly stylized and has a ready-made global audience. With our licensing deal with Ohmore and this new production agreement, I think we've found an international partner in the hottest and biggest market in the world to deliver our content to a market that loves this content and generate recurring advertising revenue".
This agreement was signed in Vancouver, BC by Imagination Park's CEO Gabriel Napora.
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.]
