VANCOUVER, British Columbia, May 12, 2022 (GLOBE NEWSWIRE) -- XR Immersive Tech Inc. (“Immersive Tech”, or the “Company”) (CSE:VRAR) (FSE:79W) (OTCQB: FNTTF) is excited to announce the completion of the production version of its highly anticipated hyper-immersive VR attraction UNCONTAINED. With the completion of the updated production version the Company is ready to go to market and begin to execute on its list of Letters of Intent (LOI), beginning with the LOIs signed on December 9, 2021, and April 7, 2021, for UNCONTAINED attractions to be installed with US-based customers.
XR Immersive Tech’s UNCONTAINED Hyper-Immersive VR attraction has moved steadily through its concept to prototype phases, and we’re pleased to announce that the commercial production model has completed its testing and refinement stages and is now ready for market launch. In terms of advancements since the prototype was revealed at the IAAPA global attractions expo in Orlando, Florida, our team has optimized every aspect of this second unit's interior and exterior features. This includes improvements to all hyper-immersive control systems in both player arena bays, the physical and environmental haptics effects, the addition of a fourth player console in each player bay, and all new physical hands on controls which are contributing to a much higher level of player engagement and immersion.
Check out the UNCONTAINED production model reveal video here.
“I couldn’t be more proud of the team and their accomplishments across the board. What we’ve done in terms of improving the physical design, fabrication, engineering, and game design, has brought us to a point where I feel confident people are going to be amazed. We have overcome huge technological limitations and developed something truly revolutionary, which I am excited to release to the market. As we begin executing on our list of existing LOIs and begin taking new orders the excitement only continues to grow,” says Tim Bieber, XR Immersive Tech CEO.
The Company’s in-house game design team has made numerous revisions to the first UNCONTAINED game experience titled Deep Signal VR (click to view the cinematic game trailer) which takes players deep into an unexplored star system to investigate a mysterious burst of dangerous cosmic energy. As a true social VR experience your team of up to three players per player bay (total 6-players) will be tasked with taking command of the experimental Pathseeker spaceship, controlling everything from weapon systems, repair tools, drones, and more in a fight against forces beyond human comprehension. The level of hyper-immersion players will experience within has never been accomplished before at this depth and level. By combining a compelling story with player agency and consequences supported by real-world feedback features that can be felt within your cockpit, this is a game unlike any other. With an incredible range of effects, including floor rumblers replicating flight and movement, scent to reinforce environmental changes, ambient headphone free audio, heat and cool effects, pneumatic air blasts, to name some, the degree of immersion aims to make the experience as engaging, memorable, and filled with as many wows as possible.
On behalf of the Board of Directors
Tim Bieber, Director and Chief Executive Officer
XR Immersive Tech Inc. (formerly Fantasy 360 Technologies Inc. d/b/a Immersive Tech)
https://www.immersivetech.co/
For further information about Immersive Tech, please contact:
Contact - Tim Bieber
Email: investors@immersivetech.co
Telephone: +1-604-283-3029
CAUTIONARY DISCLAIMERS
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. Person absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
ABOUT XR IMMERSIVE TECH INC.
Immersive Tech (formerly Fantasy 360 Technologies Inc.) is building the industry's premier location-based Metaverse Platform. Since 2016 the Company has been an industry leader in Social Entertainment, Virtual Reality (VR) and Augmented Reality (AR) entertainment attractions. With its Hardware PlatformUNCONTAINED and its Software Platform Uncontained/OS and its growing network of over 320 VR operators through SynthesisVR, the Company helps its stakeholders build user experiences unmatched in realism, depth and immersion. The Company builds experiences on its platforms for some of the world's largest companies including: Intel, Bayer, Capital One, Scotia Bank, the US Food and Drug Administration, Allegiant Airlines and more.
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information in this news release includes, without limitation, statements regarding the future plans and objectives of the Company and SynthesisVR, future performance and future growth, development initiatives, business prospects, synergies and opportunities of Immersive Tech and SynthesisVR and their related subsidiaries, the Company’s expansion initiatives and pursuit of M&A activity, and other factors beyond the Company’s control.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made, including, but not limited to, the Company being able to capitalize on the services and business of SynthesisVR, the easing of world-wide COVID restrictions and effect on the LBVR industry, the increase in VR arcades and demand for VR entertainment and educational content, the Company’s and SynthesisVR’s operations and development initiatives, and such other assumptions presented in the Company’s disclosure record. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Immersive Tech disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
