Immersive Media Corp.
TSX VENTURE : IMC

Immersive Media Corp.

August 16, 2007 13:42 ET

Immersive Media Continues Expansion Into Commercial Media

IMC's 360 degree full motion video changes the game for Adidas' experiential marketing

CALGARY, ALBERTA--(Marketwire - Aug. 16, 2007) - Immersive Media Corp. (TSX VENTURE:IMC) ("IMC") is pleased to announce the first ever use of 360 degree video for experiential marketing. In collaboration with Adidas and TAOW Productions, IMC has captured the premiere sports event of this summer - David Beckham's first game with the Los Angeles Galaxy. This exclusive immersive video was launched by Adidas on their website. Avid soccer fans can experience the 360 degree, full motion video and look around in every direction as if they were behind the scenes.

"This is the first step in validating the opportunity for IMC's technology in the commercial media space," stated Myles M. McGovern, president & CEO of Immersive Media Corp. "This aligns with our strategy to expand into advertising and broadcasting opportunities with streaming 360 degree video. We are excited to be working with a global leader like Adidas in establishing a new level of experiential marketing."

With regards to the city collection program, IMC is continuing to expand its GeoImmersive™ database with additional cities being added in North America and Europe. The European expansion includes cities in England, Germany, France, Spain and Italy. The GeoImmersive imagery is being licensed to commercial and public organizations for promotional, planning and asset management purposes. To preview the GeoImmersive Imagery visit http://demos.immersivemedia.com/onlinecities/.

Finally, from an internal growth standpoint, Dean Williams has joined IMC Sensors as vice president of sales. Dean brings over a decade of successful sales leadership and general management experience to IMC Sensors. His expertise in building and supporting distribution channels will benefit the adoption and implementation of IMC Sensors' MDVR products within the public safety and transportation markets.

About Immersive Media Corp.

IMC is the leading provider of full motion, high resolution, and spherical video. 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™ 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.

IMC's offerings include hardware, software, camera and post-production services, and immersive imagery available for licensing. Applications include: urban planning, oil and gas resource management, emergency response and first responder operations, and commercial 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 in this press release include, but are not limited to, statements with respect to IMC's intention to work with commercial accounts and IMC's opportunity to license images. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with IMC's ability to capitalize on the opportunities created by the license agreement, 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) 2007 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.

Contact Information

  • Immersive Media Corp.
    Investor Relations
    David G. Anderson, Chief Financial Officer & Secretary
    (403) 264-8817
    Website: www.immersivemedia.com