Business
RETRANSMISSION: ImagineAR's Famedays Secures $10 Million Contract to Develop 25,000 Sq. Ft. Immersive Entertainment Center at a Niagara Falls Hotel in Canada
FameDays also signed a Master Services Agreement to provide ongoing on-site and software support and will be paid an annual fee and recurring monthly royalties once the center opens to the public Vancouver, British Columbia--(Newsfile Corp. - February 25, 2025) - ImagineAR (CSE: IP) (OTCQB: IPNFF) (FSE: GMS1) an Augmented Reality company that enables organizations, brands and businesses to create their own immersive experiences, announced today the execution of a Design and Project Installation
About this update from Imaginear Inc.
[{"type":"text","content":"FameDays also signed a Master Services Agreement to provide ongoing on-site and software support and will be paid an annual fee and recurring monthly royalties once the center opens to the public","length":195,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - February 25, 2025) - ImagineAR (CSE: IP) (OTCQB: IPNFF) (FSE: GMS1) an Augmented Reality company that enables organizations, brands and businesses to create their own immersive experiences, announced today the execution of a Design and Project Installation Agreement by its wholly-owned subsidiary FameDays to develop a 25,000-square-foot immersive experience center in Niagara Falls, Ontario. The $10 million agreement, executed with Ontario real estate developer Mr. J Grewal through his holding company on February 21, 2025, will include immersive attractions, AR racing, VR Gaming, Mixed Reality among other attractions. This marks the first implementation of ImagineAR's newly announced AR-AI (Augmented Reality-Artificial Intelligence Integrated Revenue) business model, designed to drive scalable, recurring revenue.","length":874,"tagName":"p"},{"type":"text","content":"Mr. J Grewal, an Ontario real estate developer and owner of the location for the Immersive Centre at Niagara Falls, paid a non-refundable deposit of $250,000 to the Company upon execution of the Design and Installation contract. Additionally, Mr. Grewal, through his holding company, executed the Master Services Agreement pursuant to which the Company will provide on-site support, software development and support as well as 24/7 mobile app guest support. Apart from the initial $10,000,000 contract, the Company will also receive an annual fee and monthly royalties based on the gross sales of the various attractions at the Immersive Centre once it is built.","length":662,"tagName":"p"},{"type":"text","content":"Strategic Location: Niagara Falls' Tourism Powerhouse","length":57,"tagName":"p"},{"type":"text","content":"Niagara Falls attracts over 13 million visitors annually, making it one of North America's most iconic tourist destinations. The immersive center intends to capitalize on this foot traffic, positioning ImagineAR's technology at the intersection of entertainment, education, and next-gen tourism. The l...