NEW YORK, July 29, 2013 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX; TSX: IMX) today announced it signed an agreement with Supercines, Ecuador's largest exhibitor, for two IMAX® theatres to be located in new construction projects in the city of Guayaquil, the country's largest and most populous city. The deal is part of IMAX's restructured master license agreement with Giencourt Investments S.A., a member of the RACIMEC International Group (RACIMEC), announced in January 2012.
"We're excited to have IMAX – the world's most immersive cinema experience - serve as the entertainment anchor in our upcoming shopping centers," said Johnny Czarninski, Executive President of Supercines. "We are committed to growing the IMAX brand in Ecuador, which we are confident will further strengthen our business and provide a differentiated movie-going experience that will thrill our guests."
"Today's agreement demonstrates that we are continuing to make inroads in South America - partnering with the top exhibitor in the country and bringing The IMAX Experience to premium sites," said Richard L. Gelfond, IMAX Chief Executive Officer. "We are pleased to welcome Supercines as a new IMAX partner and look forward to working together to capitalize on the growth opportunities in the region."
More information about Supercines can be found at www.supercines.com.
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 June 30, 2013, there were 767 IMAX theatres (634 commercial multiplexes, 19 commercial destinations and 114 institutions) in 54 countries.
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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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SOURCE IMAX Corporation