Excellent development ! AMPD should be trading in the 40 cent range...significantly undervalued.
AMPD Signs Letter of Engagement with Versatile Media for Multi-Year Virtual Production Infrastructure Deal
VANCOUVER, BC / ACCESSWIRE / August 20, 2020 / AMPD Ventures Inc. ("AMPD" or the "Company")(CSE:AMPD)(FRA:2Q0) is pleased to announce that it has signed a letter of engagement with Versatile Media LTD ("Versatile") outlining the framework for a multi-year definitive agreement through which AMPD is expected to provide technology, infrastructure, and services to Versatile in the rapidly burgeoning virtual production sector.
Under the terms of the engagement, it is expected that AMPD will provide the on-premise technology requirements for Versatile's initial 12,000 sq. ft. studio, as well as provide on-going data centre-based rendering and other hosted infrastructure. Once a definitive agreement is entered into, the deal could generate revenue for AMPD of approximately $1.6M over the next 36 months.
Versatile is a creative production studio developing a brand new 12,000 sq. ft purpose-built virtual production facility in Vancouver, BC, Canada. Versatile is the North American arm of Versatile Media Asia, a company with over 25 years of experience in full digital movie production, and a pioneer in virtual production techniques.
Virtual production is expected to result in a major shift in the way that movies and TV shows are made because it provides creators with a way to see, engage with, and shoot final VFX imagery at the same time as principal photography. With virtual production, cameras, actors, and locations maybe completely synthetic but the result, thanks to many recent technological developments, can still largely follow the 'rules' of live-action filmmaking.
The process adds another level of creative control for producers and cinematographers, giving them the confidence that they have achieved their creative vision while increasing production efficiency. In addition to the creative advantages offered, COVID-19 has been seen to be accelerating the shift towards virtual production, offering the opportunity for social distancing and smaller crews, while reducing the size and scope of location shoots, set builds, and crowd scenes for the foreseeable future.
"Many virtual production techniques rely on powerful, real-time game development engines that have been the cornerstone of video game production for many years," said Steven Read, Studio Head at Versatile in Vancouver. "AMPD's technical expertise across both the video game and visual effects sectors, and this current convergence of the two industries mean that AMPD is the ideal technology partner for virtual production facilities such as the one we are building in Vancouver. We are also launching our Virtual Scouting technology enabling studios to volumetrically capture a location and share it remotely with studios through conferencing and in VR. AMPD's technology will also be a key contributor to launching that program."
"I am thrilled that Versatile has recognized AMPD as the right company to provide the technology and infrastructure as they grow their business here in North America," said Anthony Brown, CEO of AMPD. "Our goal at AMPD is always to provide bespoke high-performance compute and cloud solutions for our customers. We have been developing an optimal virtual production environment with Versatile that integrates their studio and our data centre so that they can focus on creative genius, while we ensure everything runs optimally from a technical perspective."
About AMPD Ventures Inc.
AMPD specializes in providing high-performance cloud and computing solutions for low-latency applications, including video games and eSports, digital animation and visual effects, and big data collection, analysis and visualization.
For further information please contact Investor Relations:
Tel: 604-332-3329 ext. 3
info@ampd.tech
https://www.ampd.tech
About Versatile Media Vancouver.
Versatile Media Vancouver is a creative production studio developing a brand new 12,000 sq. ft purpose-built virtual production facility in Vancouver, BC, Canada. Versatile is the North American arm of Versatile Media Asia, a company with over 30 years of experience in full digital movie production, and a pioneer in virtual production techniques.
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ "Anthony Brown"
Anthony Brown
CEO & Director
Tel: 604-332-3329
AMPD Ventures Inc.