Immersive Media Corp.
TSX VENTURE : IMC

Immersive Media Corp.

January 02, 2008 06:00 ET

Immersive Media Makes a Strategic Investment in T3 Motion, Inc.

CALGARY, ALBERTA--(Marketwire - Jan. 2, 2008) - Immersive Media Corp. (TSX VENTURE:IMC) ("IMC"), the leader in 360 degree spherical video announces a strategic investment in T3 Motion, Inc. ("T3 Motion"). IMC's combined $5 million investment (of which $2M is a short term promissory note) will result in Immersive Media acquiring approximately 5% of the current shares of T3 Motion, Inc. and ensure the joint development program for several products begins in 2008. The companies will be collaborating in the law enforcement and security market integrating IMC's 360 degree spherical video and Mobile Digital Video Recorder ("MDVR") solutions with the T3 Series vehicles. This combination provides first responders with a comprehensive video solution to capture the entire situation onboard a fast and responsive personal mobility vehicle. IMC also believes the T3 Series offers an effective method for capturing 360 degree spherical video of building interiors, stadiums, parks and other public venues.

"IMC's 360 degree video and MDVR solutions will provide added value to T3 Motion's install base in the law enforcement market," stated Myles M. McGovern, president and CEO of Immersive Media Corp. "Through our combined efforts, we are in a position to provide a more comprehensive and compelling solution to first responders. In addition, I anticipate leveraging the personal transportation technology across our other markets to increase our effectiveness in mapping, advertising and entertainment projects."

"I'm very excited about the partnership between Immersive Media and T3 Motion. We firmly believe that our T3 Series vehicle lines create the ideal synergy with the Immersive Media product offerings," said Ki Nam, founder and CEO of T3 Motion. "By combining the technical and design leadership of Immersive Media and T3 Motion, this dynamic new relationship will allow both companies to better serve existing demands in the law enforcement and security marketplaces while paving the way for improved mapping, safety, advertising, and entertainment image-capturing vehicles for 2008 and beyond."

About T3 Motion, Inc.

T3 Motion, Inc. revolutionized the world of personal mobility with the introduction of their flagship T3 Series law enforcement vehicles at the International Association of Chiefs of Police conference held in October 2006. Headquartered in Orange County, California, T3 Motion, Inc. is dedicated to raising the bar on environmental standards and law enforcement and security capabilities in personal mobility technology.

The T3 Series is a three-wheel front-wheel drive standup electric personal mobility vehicle. The elevated riding platform allows 360-degree visibility while the ergonomic riding position reduces fatigue. The T3 provides a stable ride on a variety of surfaces and the zero-degree turning radius makes it highly-maneuverable. It was designed and developed as a professional tool to address the needs of law enforcement patrol, campus policing, community policing, airports, military base security, mall security, patrolling of parks and beaches, as well as private security and private industry. For more information on T3 Motion, Inc. and the company's signature T3 Series line of personal mobility vehicles visit www.t3motion.com.

About Immersive Media Corp.

IMC is the leading provider of full motion, high-resolution, interactive spherical video technology and production services. Using eleven video streams arranged according to geodesic geometry, Immersive video captures an almost complete spherical image; a high-resolution 360 degree view of surroundings that is seamlessly stitched together. IMC's immersive movies can integrate GPS coordinates and other metadata producing our GeoImmersive(TM) video. IMC's open platform design easily interfaces with industry standard applications and databases providing viewers with greater visual detail for timely, fact-based decision-making, and for the distribution of interactive streaming spherical video.

IMC's offerings include hardware, software, production and multi-platform distribution services, and immersive imagery licensing. Applications include: urban planning, oil and gas resource management, emergency response and first responder operations, and cross platform advertising and entertainment media. IMC is a publicly traded company that is listed under the symbol "IMC" on the TSX Venture Exchange. For more information please visit www.immersivemedia.com.

ADVISORY: Certain information in this press release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "plan", "may", "should", "anticipate", "expects", "opportunity" and similar expressions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with IMC's ability to capitalize on the opportunities, IMC's ability to execute its business plan, and the inability of IMC to access sufficient capital from internal and external sources. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Additional information on these and other factors that could affect IMC's operations or financials results are included in IMC's reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com), IMC's website (www.immersivemedia.com) or by contacting IMC. Furthermore, the forward-looking statements contained in this new release are made as of the date of this news release, and IMC does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities laws.

(c) 2008 Immersive Media Corp. All rights reserved. GeoImmersive is a trademark of Immersive Media Corp. All other trademarks are the property of their respective owners.

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

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