Immersive Media Corp.

Immersive Media Corp.

March 10, 2005 14:31 ET

Immersive Media Corp. Announces Completion of Initial Public Offering


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: IMMERSIVE MEDIA CORP.

TSX VENTURE: IMC

MARCH 10, 2005 - 14:31 ET

Immersive Media Corp. Announces Completion of Initial
Public Offering

CALGARY, ALBERTA--(CCNMatthews - March 10, 2005) - Immersive Media Corp.
("Immersive") (TSX VENTURE:IMC) announced today that it has successfully
completed its initial public offering (the "IPO") of 3,000,000 common
shares at a price of $1.00 per common share resulting in gross proceeds
of $3,000,000. Bolder Investment Partners, Ltd. acted as agent for this
financing, which was fully subscribed. Immersive now has 19,997,791
common shares issued and outstanding.

The common shares are expected to be listed and posted for trading on
the TSX Venture Exchange effective at the open of markets on Monday,
March 14, 2005.

Immersive is an advanced digital video imaging company. Immersive's
Telemmersion® System captures a global image using multiple video
streams arranged according to geodesic geometry. The dodecahedron design
captures omnidirectional video that is seamlessly stitched together and
it can be viewed live or from a recording. Immersive's immersive video
provides a terrestrial view of the entire environment for timely,
fact-based decision-making.

The compact size, lightweight and rugged design of the Telemmersion®
System makes it completely portable and it can be easily mounted on land
and airborne vehicles. Applications include: persistent surveillance,
integration, command and control of interactive intelligent databases,
scenario modeling, and specialized training.

Information provided herein contains forward-looking statements. The
reader is cautioned that assumptions used in the preparation of such
information, which are considered reasonable by Immersive Media Corp. at
the time of preparation, may be proved to be incorrect. Actual results
achieved during the forecast period will vary from the information
provided and the variations may be material. There is no representation
by Immersive that actual results achieved during the forecast period
will be the same in whole or in part as those forecast.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Immersive Media Corp.
    Myles M. McGovern
    President and Chief Executive Officer
    (403) 264-8817
    Website: www.immersivemedia.com
    or
    Immersive Media Corp.
    David G. Anderson
    Chief Financial Officer and Corporate Secretary
    (403) 264-8817
    Website: www.immersivemedia.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.