TORONTO, July 18, 2018 (GLOBE NEWSWIRE) — ARHT Media Inc. (“ARHT” or the “Company”) (TSXV:ART), a global leader in the development, production and distribution of high quality hologram content through its patented Augmented Reality Holographic Telepresence technology is excited to announce that the Company has signed a worldwide exclusive license agreement with NexTech AR Solutions (“NexTech”) to bring its patented holographic display technology to the cannabis industry. For the next five years, NexTech agrees to purchase a minimum of 12 holographic display units per year, and ARHT will earn ongoing royalties on commercial uses of each display. According to The Arcview Group, projected spending in the North American Cannabis market is estimated to grow from $9.2 billion in 2017 to $47 billion by 2027. With over 5,000 marijuana dispensaries open in the U.S and growing, NexTech believes that ARHT’s holographic technology is both needed and ready to be launched into the cannabis market.
“While we are making great inroads into the traditional retail, education, events and entertainment markets, we see the cannabis market as another big opportunity for our technology and are excited to work with NexTech to make this happen,” commented Larry O’Reilly, ARHT’s CEO. “The cannabis sector is exploding in growth and our holographic displays and telepresence technology are a natural fit to take cannabis retailing to a whole new level. With this agreement in place we have the potential to be in hundreds of locations in North America over the next few years.
“Imagine walking into your local dispensary and being able to see a 3D 8-foot image of a cannabis bud spinning around with a 360-degree view of every trichrome, every fiery orange hair, the sugary crystals, chunky knobs enveloped by tiny leaves, without any special glasses,” commented Reuben Tozman, Chief Product Officer of NexTech. “With this proven holographic technology, we now can put 3D screens (with no glasses) into the cannabis market allowing cannabis brands to advertise as well as stream live events directly to its consumer bringing them closer to their favorite brand.”
About ARHT Media
ARHT’s patented Augmented Reality Holographic Telepresence technology is the world’s first complete end-to-end solution for the creation, transmission, and delivery of lifelike digital holograms. The company’s technology is protected by U.S. Patent No. 9,581,962.
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ARHT Media trades under the symbol “ART” on the Toronto Venture Stock Exchange.
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This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company’s technology; the potential uses for the Company’s technology in the cannabis market; the agreement and relationship with NexTech; the future planned events using the Company’s technology; the future success of the Company; the ability of the Company to monetize the HumaGram™ technology; the development of the Company’s technology participation by the Company in Nextech AR Solutions; and interest from parties in ARHT’s products. Generally, forward looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic and competitive uncertainties; regulatory risks; risks inherent in technology operations; and other risks of the technology industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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