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GlobeNewswire XR Immersive Tech Inc. ("Immersive Tech", or the "Company") (CSE:VRAR) (FSE:79W) (OTCQB: FNTTF) is pleased to announce that its recently acquired subsidiary, Synthesis VR Inc. ("Synthesis VR"), a leading location-based virtual reality ("LBVR") content distribution and facility management platform, has joined forces with VictoryXR ("VictoryXR") in bringing their educational content to LBVR operators worldwide, accessible through the Synthesis VR content marketplace. VictoryXR is one of the largest providers of virtual reality ("VR") educational content for levels starting in Kindergarten and up to Grade 12. The company's foresight and understanding of the potential that VR brings has resulted in a wider category of experiences to inspire, train, and amaze with content that opens up the opportunity to, for example, take a field trip and learn about the history of Rome, its forums, the Colosseum, the Pantheon, the Basilica of Maxentius, visit and walk the Great Wall of China or enjoy gamified immersive VR learning experiences in science, literature, math, computer engineering, art, drama and much more. A Shabeer Sinnalebbe, Head of XR Networks at Immersive Tech stated, "As COVID restrictions world-wide start easing, we are seeing a dramatic bounce back of the LBVR industry after two years of mandates and restrictions being lifted. VR entertainment centers have always focused on games that are able to attract a wide audience and keep its locations busy during off peak hours. With the completion of Synthesis VR's year-long R&D phase aiming at the support of all standalone/mobile head-mounted displays ("HMDs"), Synthesis VR is beginning to add a wide range of new experiences which have been specifically developed for these standalone Android-based HMD's. With this VictoryXR partnership, we are proud to not only bring their PC based VR content, but all the added VictoryXR educational content developed for Android standalone headsets." The cost of VR HMDs has dropped dramatically over the past few years thanks to advancements in standalone Android-based headsets (such as Meta Quest, HTC Focus 3) which is giving rise to a rapid increase in VR Arcade centers opening worldwide including VR attractions being added to existing Family Entertainment Centers. The Company believes by bringing K to Grade 12 STEM (Science, Technology Engineering, and Mathematics) content, LBVR operators can take advantage of these immersive learning experiences to attract students, parents, tutors and school field trips, thus expanding their business, particularly in off-peak day-time hours. VictoryXR CEO Steve Grubbs stated "Synthesis VR and VictoryXR will bring education to life for students who want to learn while being immersed in gaming. Loving to learn starts with immersive education and that is what this partnership brings to all the locations that use Synthesis VR." Tim Bieber, CEO of Immersive Tech stated, "This partnership further reinforces Immersive Tech's commitment to bridge reality with virtual reality in a way that benefits the LBVR operators and their users. Immersive Tech and its team are incredibly pleased to be a part of this process of making education, training, and immersive learning more readily available to the world. We are pleased with the operational and corporate milestones achieved to-date which we believe puts us in a strong position for future growth and innovation." |