MONTREAL, QUEBEC--(Marketwire - March 23, 2010) - ISee3D Inc. ("ISee3D") (TSX VENTURE: ICT) announced today it has entered into an agreement with Stereo Vision Systems, Inc., of Ithaca, New York ("SVS") to purchase a Philips WOWZone Video Wall System, with all accompanying displays, computers, hardware, power supply and router, and including delivery and installation at its head offices in Montreal.
The purchase price is $200,000, which will be settled through the issuance of common shares of Isee3D Inc., at a deemed price of
.49 per share. The acquisition and the share issuance are subject to the prior written approval of by the TSX Venture Exchange. The shares are also subject to a hold period of four months and one day from the date of issuance.
The Phillips 3D WOWZone is a large 132 inch multi-screen glassless 3D display wall.
Dwight Romanica, CEO, commented, "This is a unique display technology with stunning 3D without the use of special glasses. The viewer becomes part of the 3D experience due to its sheer size and impressive 3D effects. It will be excellent for displaying the full advantages of Isee3D's HD 3D single lens camera system."
About ISee3D Inc.
ISee3D Inc. (TSX VENTURE:ICT) owns certain patented technology which provides for the capture of stereoscopic (3D) images through a single lens. The Company's technology has broad applications in a variety of markets including the home entertainment industry, and consumer electronics, as well as industrial and imaging devices of all types including microscopes, endoscopes as well as more sophisticated medical imaging systems.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The company cautions readers that forward-looking statements, including without limitation those relating to the company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.