Departure Lounge Enters Representation & Reseller Agreement With Virtual Production & Immersive XR Technology Company, ARwallMonday, June 6, 2022
Vancouver, BC, June 6, 2022--(T-Net)--AMPD Ventures Inc. (CSE: AMPD; OTCQB: AMPDF) subsidiary Departure Lounge Inc., a Vancouver, BC-based company offering a range of Metaverse-related technologies and creative services announced that it has entered into a representation and reseller agreement with ARwall, a Los Angeles-based provider of LED wall virtual production and immersive XR technologies and software.
ARwall is a mixed reality and augmented reality company offering services in motion picture virtual production effects, interactive experiences, and location-based amusements.
Departure Lounge will act as ARwall's representative and reseller in Canada, selling and supporting ARwall's platform and software to customers across Canada.
Departure Lounge will also operate and showcase ARwall's platform and software on its recently acquired 20' x 11' 1.5mm pixel pitch interactive LED wall.
ARwall is a Los Angeles-based XR technology company shaking up the virtual and real time production industries for both linear and interactive applications. Its diverse multi-disciplinary team comes from TV, VFX, design, mobile, games, and advertising and offers software, consulting and turnkey solutions for creators and filmmakers.
During the pandemic, ARwall gained acclaim for launching a prosumer virtual production software solution, plugins, and complete kit for filmmakers, called ARFX Home Studio, the first such offering on the market.
ARwall's ARFX software combines patented award-winning spatial imaging tech, XR SYNC, with the most cutting-edge virtual production systems in the world to deliver turnkey solutions for soundstages, production companies, and virtual production studios.
The platform is based around the company's ARFX Pro software and hardware solution for LED/projection XR "in-camera effects" backdrops, which includes AR overlay and green screen compositing with camera and lens tracking; a complete virtual production solution.
All ARwall software includes the company's patented XR SYNC: one-click calibration for in-camera effects that have been half a decade in the making. The ARwall Interactive solution combines ARwall's award-winning tech with touch-free and headset-free mixed reality graphics to deliver turnkey solutions for mass audiences in venues, immersive kiosks, interactive XR walls, and more.
"I knew we wanted to add LED-wall-based accessible virtual production capabilities to the volumetric and motion capture technologies we already have onsite at Departure Lounge HQ in Vancouver," said James Hursthouse, CEO and founder of Departure Lounge. "We feel fortunate to have begun working with CEO Rene and the team at ARwall as we share a vision around the need for more accessible, modern virtual production technologies."
"We are exceptionally pleased to be able to add Departure Lounge to our roster of both customers and representatives," said Rene Amador, CEO and co-founder of ARwall. "We look forward to ARwall solutions being adopted widely in Canada, both for movie production and in the interactive wall space as well. ARwall is here to create the easiest way to join this XR revolution in filmmaking internationally."
Departure Lounge recently announced it would be a keystone partner in plans for a Metaverse Innovation Centre ("MIC") as part of an education collaboration agreement with Vancouver's Centre for Digital Media. Training initiatives and collaborative projects being planned as part of the MIC will also have access to the ARwall LED wall and associated technology and software.
About Departure Lounge Inc.
Departure Lounge Inc. was established in June 2021 to combine the founding team's expertise to capitalise on the massive opportunity represented by the ongoing transition to the Metaverse.
The company offers innovative tools and technologies to facilitate access to the Metaverse, a creative services team to help build the Metaverse, and a Web3 consultancy team to monetize the Metaverse. Departure Lounge's main facility occupies over 7,000 sq ft of space at Vancouver's Centre for Digital Media ("CDM") and houses the Metastage Volumetric Capture Stage and Move.ai motion capture rig, alongside its creative services team.
Departure Lounge was acquired by AMPD Ventures Inc. (CSE: AMPD) in December 2021. Departure Lounge operates as an independent business unit while taking full advantage of the high-performance cloud and compute solutions being offered by AMPD Technologies Inc.
ARwall provides XR technology and solutions for creators and filmmakers of all levels. The company offers consulting and turnkey solutions spanning creative, hardware, software, and immersive XR innovation.
Forward Looking Statements
This news release contains statements and information that constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of our management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances and at the date that such statements are made, but which may prove to be incorrect. Forward looking information in this news release includes statements about management's intended use of the proceeds of the Private Placement, and management's ability to complete the Acquisition, and management's plans to accelerate the rollout of AMPD's High-Performance Edge computing environments around the world, and any other statements that are not statements of historical fact. [ MORE ]
Forward Looking Statements
This news release contains statements and information that constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of our management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances and at the date that such statements are made, but which may prove to be incorrect. Forward looking information in this news release includes statements about management's intended use of the proceeds of the Private Placement, and management's ability to complete the Acquisition, and management's plans to accelerate the rollout of AMPD's High-Performance Edge computing environments around the world, and any other statements that are not statements of historical fact.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of AMPD to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, but are not limited to: successful completion of due diligence with respect to Departure Lounge, execution of a definitive agreement for the Acquisition and the ability to obtain approvals and satisfy conditions required for the Acquisition, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Form 2A Listing Statement dated October 17, 2019 and "Risk and Uncertainties" in the Company's most recent Management Discussion and Analysis filed on SEDAR.
Although the forward-looking information is based on our management's reasonable assumptions at the date such statements are made, there can be no assurance that the forward-looking information will prove to be accurate and that the Acquisition will complete, or that the Company will succeed in achieving its goals for rollout of its High-Performance Edge computing environments around the world, or that its expectations for the development of the Metaverse will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. AMPD does not undertake to update or revise any forward-looking information, except in accordance with applicable securities laws.
All forward looking information contained in this news release is qualified by this cautionary statement.
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