Immersive Media Corp.
TSX VENTURE : IMC

Immersive Media Corp.

March 20, 2007 06:31 ET

ProLogic, Inc. Partners With Immersive Media Corp. to Create Next Generation Situational Awareness Solutions for US Military

CALGARY, ALBERTA and MORGANTOWN, WEST VIRGINIA--(CCNMatthews - March 20, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

ProLogic, Inc. has recently awarded a sub-contract to Immersive Media Corp. (TSX VENTURE:IMC) ("IMC") to support an ongoing program with the United States Department of Defense. The key deliveries of the new contract call for ProLogic and its partner - IMC - to enhance the military's ability to rapidly collect operational data under combat conditions. IMC's 360 degree, spherical imagery ensures the entire situation is recorded, delivering comprehensive visual intelligence to support ProLogic's 4D visual computing environment for weapons damage assessment, predictive threat capability design and survey tool enhancements. The subcontract effort enables ProLogic and the military to study the advantages of using IMC's cutting edge collection technology within this system.

ProLogic has several contracts with the US military to help support Brigade and Below level operations. According to Bob Cowling, ProLogic's VP of Technology, "The use of IMC's Dodeca camera technology will allow us to create better situational awareness products for our customers."

"We are pleased to work with ProLogic and demonstrate the value of IMC's georeferenced, spherical video in the situational awareness market," stated Myles M. McGovern, president & CEO of Immersive Media Corp. "ProLogic is committed to the integration and innovation of advanced data visualization technologies and we believe the geodesic design of our technology will deliver more accurate visual imagery and support timely decision making in combat situations."

The sub-contract calls for the use of the IMC's Dodeca 2360 camera as well as engineering and management support for 12 months.

About Immersive Media Corp.

IMC is an advanced digital video imaging company. 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 GIS coordinates and other metadata producing our GeoImmersive™ video. IMC's open platform design easily interfaces with industry standard 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

About Prologic, Inc.

ProLogic, Inc. is a software engineering organization providing Information Technology (IT) solutions to many government agencies, including the Department of Defense and the Department of Energy. The company has 260 employees and operations in 10 states.

At ProLogic, we focus our efforts on IT opportunities (both competitive and set-aside) where our core competencies of software development, system integration, and IT support and management offer the customer a differentiated, more comprehensive solution set. We focus our pursuits on opportunities where integration and innovation are essential to success.

ProLogic, Inc. is an 8(a) and SDB certified small business headquartered in West Virginia, with business operations in Pennsylvania, Virginia, Florida, Alabama, Nevada, Indiana, and Wisconsin. ProLogic will graduate from the 8(a) program in Dec 2007.

Questions regarding the ProLogic - IMC Partnership should be addressed to Paul Maguire, VP Business Development pmaguire@prologic-inc.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 increase mapping of cities in North America and internationally, the benefits of the license agreement to IMC, and IMC's opportunity to license updates and new images under the agreement. 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.

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