SOURCE: Provision Holding, Inc.

Provision Holding, Inc.

July 22, 2014 08:00 ET

Provision Holding, Inc. Subsidiary Signs $50 Million Agreement to Finance Launch

Joint Venture With Finance Partner Will Place 3D Kiosks in National Pharmacy Chain

CHATSWORTH, CA--(Marketwired - July 22, 2014) - Provision Interactive Technologies, Inc. ("Provision"), a subsidiary of Provision Holding, Inc. (PINKSHEETS: PVHO), is pleased to announce today that it has entered into an agreement with DB Dava, LLC ("DB") to launch a 3D network starting in a national pharmacy chain. 

Provision and a newly-formed entity named ProDava 3D, LLC will commercialize Provision's 3D holographic based kiosks (the "3D Kiosks"), commonly known in the market as "3D Reward Centers", in the U.S. retail market. Through the agreement the first 3D Kiosks will be placed in a national chain of retail pharmacies to display advertisements, promotions, sweepstakes, samples, coupons and other consumer-based retail programs.

DB's capital contribution to the joint venture includes an investment of up to $50 Million in cash from investors including a company financed by a New York based investment firm; a leading, highly diversified global investment manager with approximately $60 billion of assets under management. The agreement calls for an immediate initial investment of $2 million into the joint venture from DB, and assigns the current value of Provision at $12.5 million. 

Provision's contribution to the joint venture includes Provision's know-how, management, and its agreement with the national retail pharmacy that will be the first target for the 3D Kiosk launch. Provision will be responsible for manufacturing, installation, service, maintenance, technical support, network management, advertising, marketing, and accounting of each 3D Kiosk for the joint venture. Provision will be compensated by the joint venture for rendering and performing all of these services under the terms and conditions of the agreement. The advertising and other revenues generated from the 3D Kiosks will be split between the members of the joint venture, pursuant to certain agreed upon terms of the agreement. 

The Joint Venture is purchasing 3D Kiosks, manufactured by Provision. These will be placed in high traffic aisles of nationally recognized retail stores with advertisements of consumer packaged products, other consumer goods manufacturers along with local/regional advertisers. Ad sales inventory will include marquee 3D hologram images, coupons, and other rewards and transactions of products sold in the stores (focused on new product introductions). 

Provision looks forward to planning deployment of several thousand machines over the next 24 months. With the funding in place for the nationwide rollout, annual revenue is forecasted to provide Provision with substantial resources to expand its 3D Kiosks to additional locations in the U.S., Asia, and Europe. 

"We are very excited by this new opportunity to work with DB, and especially with our new friends at DB Dava," said Provision CEO Curt Thornton. "We look forward to a successful future together."

About Provision Interactive Technologies, Inc.

Provision Interactive Technologies, Inc., a subsidiary of the publicly traded company Provision Holding, Inc. (PVHO.PK), is the leading purveyor of intelligent interactive 3D holographic display technologies, software, and integrated solutions for both commercial and consumer focused applications.

Provision's 3D holographic display systems represent a revolutionary technology that provides the projection of full color, high resolution videos into space detached from the screen, without any special glasses. Provision is currently the market leader in true 3D consumer advertising display products being implemented by innovative, consumer-focused Fortune 1000 companies.

For more information, visit www.provision.tv.

Forward-Looking Statements

This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to raise capital, install systems within currently estimated time frames and budgets; build an advertising network and compete effectively in a rapidly evolving and price competitive marketplace; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission.

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