Imagination Park Developing Immersive 360° Virtual Reality Series For MMA Global Fans

Vancouver, BC – February 7, 2017 – Imagination Park Entertainment Inc. (CSE: IP) (OTC: IPNFF) (“Imagination Park” or the “Company”) is pleased to announce a new project in development called KUMITE, an original, episodic action series, created in immersive virtual reality. This is the next project in Imagination Park’s collaboration in serialized storytelling for VR. Episodes will be filmed in Vancouver, Los Angeles and Toronto and will be produced by Gabriel Napora, Tim Marlowe and Yas Taalat.

KUMITE is about a mixed martial arts fighter, who travels to underground fight leagues all over the world to challenge top competitors. Mixed Martial Arts, or MMA, has a huge fan base garnered by UFC, with over 3.4 million followers on Twitter.

KUMITE will be an ongoing story created for VR enthusiasts who are willing to pay a premium for quality titles. KUMITE will be packaged and submitted to popular VR online content stores.  VR titles are currently being sold in a growing group of online stores including Steam, Vive, Milk VR (Samsung) and the Oculus Store (owned by Facebook).

“Customer-centric content is at the core of our business, and we’re continually looking for new, innovative ways to engage audiences,” said Yas Talaat, Director at Imagination Park Entertainment. “Virtual Reality offers us another way to challenge our storytelling, and provide audiences with a fully-immersive viewing experience. We’re excited to work on KUMITE and there is a huge audience awaiting this content.”

The demand for VR content is growing exponentially as hardware sales increase. VR headsets are expected to reach 2.5 million units this year, up 79% versus 2016, while driving $660 million in revenues, a predicted year-on-year jump of 42% according to CTA (Consumer Technology Association).

Imagination Park also announced today, that Kelsey Chin has resigned as the company’s Chief Financial Officer for personal reasons. Effective Feb 1, 2016, John Masters, who previously served as IP’s CFO, will resume responsibilities as Chief Financial Officer.

“We thank Kelsey Chin for all of her contributions to Imagination Park Entertainment and wish her all the best in her future endeavors” said Colin Wiebe, Chairman of Imagination Park.

About the Company’s Production Services Business

In addition to our growing portfolio of proprietary feature film projects now in development, Imagination Park’s production services are a core component of the Company’s revenue model. Our world class team of talented digital content production experts provide conventional, visual effects, and virtual reality production services for commercial, music, and feature film projects around the world.

Parties interested in contracting the Company to produce their digital content projects are invited to present their projects to [email protected] for consideration.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release. This press release may include ‘forward-looking information’ within the meaning of Canadian securities legislation, concerning the business of the Company. The forward looking information is based on certain key expectations and assumptions made by Imagination Park’s management. Although Imagination Park believes that the expectations and assumptions on which such forward- looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Imagination Park can give no assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and Imagination Park disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.