ImagineAR's
FameDays Secures $10 Million Contract to Develop 25,000 Sq. Ft.
Immersive Entertainment Center at a Niagara Falls Hotel in
Canada
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, BC,
February 25, 2025 --InvestorsHub NewsWire
-- ImagineAR (CSE:IP) (OTCQB:IPNFF)
(Frankfurt: 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)
(OTC: IPNFF) (Frankfurt: 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
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as of the date of this press release, and the Company does not
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forward-looking statements that are contained or referenced herein,
except in accordance with applicable securities laws.
