ImagineAR Announces Termination of Agreements for Niagara Immersive Center Project

Executive Summary

• ImagineAR Inc. received formal notice from 1000005450 Ontario Inc. terminating both the Design and Project Installation Agreement (DPIA) and the Master Services Agreement (MSA) for the planned Niagara Immersive Center, effective immediately.
• The termination was driven by deteriorating economic conditions, financing risk, and tariff‑related cost pressures in Canada, not by any deficiency in ImagineAR’s technology or performance.
• No work had commenced; any non‑refundable deposit paid will be credited toward a potential future engagement if conditions improve.

Key Details

• Termination Notice: Received from 1000005450 Ontario Inc.; effective immediately for both DPIA and MSA.
• Reasoning Cited: Heightened economic uncertainty, increased financing risk, and cross‑border tariff cost pressures rendering the Niagara Immersive Center project non‑viable at this time.
• Project Status: No installation or development work had started under either agreement.
• Future Possibility: Owner may consider re‑engaging if economic conditions materially improve (stabilized financing markets, reduced tariffs). No commitment implied.
• Deposit Treatment: Any previously paid non‑refundable deposit will be credited toward a future engagement, subject to negotiation of a new agreement.
• Obligations: ImagineAR confirms no outstanding obligations remain under the terminated agreements.

Notable Quotes

• “The termination decision is not reflective of the capabilities, technology, or professionalism of ImagineAR.” – Alen Paul Silverrstieen, President & CEO

All forward‑looking statements are subject to risks and uncertainties that could cause actual results to differ materially.