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IMAX SIGNS FIRST LASER TECHNOLOGY AGREEMENT FOR AN IMAX® DOME WITH SCIENCE MUSEUM OF MINNESOTA

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Written by: IMAX Corporation
Date: June 24, 2014

This deal marks the first laser agreement for an IMAX dome theatre worldwide.

  

Category: Press Releases

NEW YORK – Jun. 24, 2014 – IMAX Corporation (NYSE:IMAX; TSX:IMX) and the Science Museum of Minnesota today announced an agreement to install IMAX’s next-generation digital laser projection system at the Museum’s IMAX® dome theatre, marking the first laser agreement for an IMAX dome theatre worldwide. The new technology will enable the Museum to deliver a wider array of digital content and further enhance The IMAX Experience® for its visitors.

“Today’s agreement marks the entry of our laser technology to the unique dome market and we are pleased that one of the most widely-acknowledged leaders in the giant screen dome world is the first to commit to our new offering,” said IMAX CEO Richard L. Gelfond. “We continue to redefine the landscape of projection technology with our next-generation laser system, which we believe will deliver the most immersive, differentiated cinema experience available.”

“We are constantly exploring and implementing new technologies to educate our audiences about science,” said Science Museum of Minnesota President, Dr. Eric Jolly. “Since we opened our new museum facility in 1999 on the Mississippi riverfront in downtown Saint Paul, a cornerstone of fulfilling our mission has been our IMAX dome theater, the William L. McKnight-3M Omnitheater. We are also looking into new types of science-related content and visualization that we can bring to life through the laser offering in a way that’s never been possible. This commitment to innovation with IMAX’s laser system will provide us with more programing options in a format we believe will be the industry’s most powerful and immersive.”

Under the terms of the agreement the Science Museum of Minnesota will install IMAX's next-generation laser projection system, which is expected to set a new benchmark as the industry’s premium entertainment experience. The system, which represents the culmination of the largest R&D initiative in IMAX’s history, incorporates the laser digital intellectual property IMAX exclusively licensed from Eastman Kodak and Barco's unique laser innovations. It will enable IMAX’s largest screens to deliver the highest-quality digital content available with greater brightness and clarity, a wider color gamut and deeper blacks. IMAX's next-generation laser projection system will also be custom-designed for dome theatre environments.

About the Science Museum of Minnesota
Among the nation's largest and most esteemed science museums, the Science Museum of Minnesota inspires hundreds of thousands of people each year. The museum conducts research, collects and preserves artifacts, produces and distributes award-winning exhibits and giant screen films, and offers educational programs for children, families, and adults.

About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you’ve never imagined. Top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and, as such, IMAX’s network is among the most important and successful theatrical distribution platforms for major event films around the globe.

IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo, Shanghai and Beijing. As of March 31, 2014, there were 840 IMAX theatres (707 commercial multiplexes, 18 commercial destinations and 115 institutions) in 57 countries.

IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience®, The IMAX Experience®, IMAX Is Believing® and IMAX nXos® are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).

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This press release contains forward looking statements that are based on IMAX management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. These risks and uncertainties are discussed in IMAX’s most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.

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