RETRANSMISSION: ImagineAR's Famedays Secures $10 Million Contract to Develop 25,000 Sq. Ft. Immersive Entertainment Center at a Niagara Falls Hotel in Canada

Rhea-AI Summary

ImagineAR (CSE: IP) (OTCQB: IPNFF) announced that its subsidiary FameDays has secured a $10 million contract to develop a 25,000-square-foot immersive experience center in Niagara Falls, Ontario. The agreement was executed with Ontario real estate developer Mr. J Grewal on February 21, 2025.

The project represents the first implementation of ImagineAR's new AR-AI business model designed for scalable, recurring revenue. Key features include:

• A non-refundable deposit of $250,000 paid upon contract execution
• A Master Services Agreement for ongoing support
• Annual fees and monthly royalties based on gross sales
• Immersive attractions, AR racing, VR Gaming, and Mixed Reality

Located in a region attracting over 13 million visitors annually, the center aims to capitalize on Niagara Falls' tourism. The partnership serves as a blueprint for scaling ImagineAR's technology across high-traffic global destinations, with potential expansion already in discussion for a second, larger location in Ontario.

Positive

• Secured a substantial $10 million contract for immersive entertainment development
• Established recurring revenue model through annual fees and monthly royalties
• Strategic location in Niagara Falls with access to 13 million annual visitors
• Received $250,000 non-refundable deposit showing client commitment
• Potential expansion with discussions for additional locations already underway
• Positioned in a rapidly growing market projected to reach $1.7 trillion by 2032

Negative

• Project execution and timeline risks for completing the 25,000 sq. ft. center
• Dependency on tourism patterns which can be affected by economic downturns
• Competition in the rapidly growing immersive technology market
• Potential technical challenges in implementing advanced AR/AI technologies
• Reliance on a single developer relationship for this major project

News Market Reaction – IPNFF

-11.20%

1 alert

-11.20% News Effect

On the day this news was published, IPNFF declined 11.20%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

FameDays also signed a Master Services Agreement to provide ongoing on-site and software support and will be paid an annual fee and recurring monthly royalties once the center opens to the public

Vancouver, British Columbia--(Newsfile Corp. - February 25, 2025) - ImagineAR (CSE: IP) (OTCQB: IPNFF) (FSE: GMS1) an Augmented Reality company that enables organizations, brands and businesses to create their own immersive experiences, announced today the execution of a Design and Project Installation Agreement by its wholly-owned subsidiary FameDays to develop a 25,000-square-foot immersive experience center in Niagara Falls, Ontario. The $10 million agreement, executed with Ontario real estate developer Mr. J Grewal through his holding company on February 21, 2025, will include immersive attractions, AR racing, VR Gaming, Mixed Reality among other attractions. This marks the first implementation of ImagineAR's newly announced AR-AI (Augmented Reality-Artificial Intelligence Integrated Revenue) business model, designed to drive scalable, recurring revenue.

Mr. J Grewal, an Ontario real estate developer and owner of the location for the Immersive Centre at Niagara Falls, paid a non-refundable deposit of $250,000 to the Company upon execution of the Design and Installation contract. Additionally, Mr. Grewal, through his holding company, executed the Master Services Agreement pursuant to which the Company will provide on-site support, software development and support as well as 24/7 mobile app guest support. Apart from the initial $10,000,000 contract, the Company will also receive an annual fee and monthly royalties based on the gross sales of the various attractions at the Immersive Centre once it is built.

Strategic Location: Niagara Falls' Tourism Powerhouse

Niagara Falls attracts over 13 million visitors annually, making it one of North America's most iconic tourist destinations. The immersive center intends to capitalize on this foot traffic, positioning ImagineAR's technology at the intersection of entertainment, education, and next-gen tourism. The location ensures access to a global audience and enhancing visibility for both parties.

2025 Rollout

The Niagara Falls center is the first immersive AR /AI installations slated for 2025. The partnership serves as a blueprint for scaling ImagineAR's technology across high-traffic global destinations, from theme parks to cultural landmarks.

Mr. J Grewal added, "An immersive center inside a hotel transforms the guest experience from a simple stay to a journey of discovery, blending technology, culture, and entertainment seamlessly. In Canada, where travelers seek both adventure and authenticity, this innovation allows hotels to offer curated, interactive experiences that not only enhances guest satisfaction but also drives longer stays and repeat visits, making it the future of hospitality. We have already expressed interest to open two more locations, and we are currently in discussions to open our 2nd immersive center in Ontario with much larger square footage."

Alen Paul Silverrstieen, CEO of ImagineAR, stated, "This partnership is a transformative milestone. Niagara Falls' tourist base provides the ideal stage to showcase how AR/AI can redefine experiential entertainment. By signing a $10 million contract and a separate agreement securing recurring revenue for our software installation, this accelerates adoption of our AR-AI model. This is just the beginning of our vision to make immersive AR/AI a staple of global tourism."

Recent data predicts the immersive tech market will explode from $183.96 billion in 2024 to $1.7 trillion by 2032, with a staggering 32.1% annual growth rate. https://unity.com/blog/industry-trends-report-2025

About ImagineAR

ImagineAR Inc. (CSE: IP) (OTCQB: IPNFF) (FSE: GMS1) is an augmented reality (AR) platform, ImagineAR.com, that enables businesses of any size to create and implement their own AR immersive campaigns with no programming or technology experience. FameDays, wholly owned subsidiary, is a leading-edge developer of immersive entertainment centers, integrating AR/ AI and interactive technology to create fully immersive, high-impact experiences. The large-scale venues redefine storytelling by blending pre-rendered visuals, augmented reality overlays, and real-time interactivity, offering audiences a next-generation entertainment experience with limitless creative possibilities.

For more information or to explore working with ImagineAR or Famedays , please email info@imaginear.com, or visit www.imagineAR.com.

All trademarks of the property of respective owners.

ON BEHALF OF THE BOARD
Alen Paul Silverrstieen
President & CEO
(818) 850-2490
info@imaginear.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Information and Statements

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or"believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved".
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such information and statements. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242235

FAQ

What is the value of the contract ImagineAR (IPNFF) secured for the Niagara Falls immersive center?

ImagineAR (IPNFF) secured a $10 million contract through its subsidiary FameDays to develop a 25,000-square-foot immersive experience center in Niagara Falls, Ontario. The agreement was executed on February 21, 2025, with a non-refundable deposit of $250,000 paid upon signing.

How will IPNFF generate recurring revenue from the Niagara Falls immersive center project?

IPNFF will generate recurring revenue through a Master Services Agreement that provides on-site support, software development, and 24/7 mobile app guest support. The company will receive an annual fee and monthly royalties based on the gross sales of various attractions once the center opens to the public.

What technologies will be featured in IPNFF's Niagara Falls immersive entertainment center?

The immersive entertainment center will feature augmented reality (AR) racing, virtual reality (VR) gaming, mixed reality experiences, and other immersive attractions. This implementation represents ImagineAR's new AR-AI (Augmented Reality-Artificial Intelligence Integrated Revenue) business model.

What is the projected market growth for immersive technology that IPNFF is targeting?

According to data cited in the press release, the immersive technology market is projected to grow from $183.96 billion in 2024 to $1.7 trillion by 2032, representing a 32.1% annual growth rate. IPNFF is positioning itself to capitalize on this rapidly expanding market.

What expansion plans does IPNFF have beyond the initial Niagara Falls immersive center?

IPNFF is using the Niagara Falls center as a blueprint for scaling its technology across high-traffic global destinations. Mr. J Grewal has already expressed interest in opening two more locations, with discussions underway for a second immersive center in Ontario that would feature a larger square footage than the Niagara Falls location.

How many visitors does Niagara Falls attract annually that could potentially visit IPNFF's immersive center?

Niagara Falls attracts over 13 million visitors annually, making it one of North America's most iconic tourist destinations. The immersive center aims to capitalize on this substantial foot traffic, positioning ImagineAR's technology at the intersection of entertainment, education, and next-generation tourism.