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SOURCE IMAX Corporation
IMAX Signs Agreement with Country's Marquee Cinema Project to Open First IMAX® Theatre in Georgia
BARCELONA, Spain, June 17, 2014 /PRNewswire/ --Today at the 2014 CineEurope Conference, IMAX Corporation (NYSE: IMAX; TSX: IMX) and Cavea Cinemas, the fastest-growing cinema chain in South Caucasus, announced an agreement to install an IMAX® theatre at the exhibitor's new ten-screen multiplex – the largest in the region - located at the Eastpoint Shopping Mall in Tbilisi. The deal marks IMAX's first entry into Georgia.
"We are proud to be the first to bring The IMAX Experience® to audiences in Tbilisi and launch a new era of immersive moviegoing in the country," said Beso Abesadze, CEO, Cavea Cinemas. "IMAX is known worldwide as the best way to experience blockbuster films and we believe the addition of an IMAX theatre to our flagship complex will be a tremendous success with our guests."
"We are excited to partner with a top-notch exhibitor such as Cavea Cinemas to introduce IMAX to audiences in Georgia and look forward to working together to expand our presence in this new market," said Andrew Cripps, President, IMAX EMEA. "Today's agreement marks the sixth new territory we've entered in 2014 and represents the 13th country in the EMEA region to have added an IMAX theatre this year. Our partnership with Cavea Cinemas builds on this momentum and furthers our efforts in expanding the IMAX network into new markets with leading exhibitor partners who share our commitment to quality and providing audiences the world's most immersive entertainment experience."
About Cavea Cinemas Cavea Cinemas, headed by an experienced group of leading cinema professionals, is a brand new circuit based in Tbilisi, Georgia. The Company aims at drastically expanding the horizons of cinematic entertainment for moviegoers across a wider market. In addition to multiple, cutting-edge projects currently in the pipeline, we – as a first-class exhibitor - are proud to be developing the largest cinema complex across the region – a ten-screen flagship operation at the East Point Shopping Center, including a state-of-the-art IMAX® theatre for over 400 viewers.
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.
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.