Imagination Park Technologies Inc.

03:36 PM EST - Imagination Park Technologies Inc. : Has acquired a patent portfolio from XMG Studio Inc., which was a pioneer in augmented reality gaming and Location Based Games in the 2009-2011 timeframe, including the developer of the successful GhostbustersTM Paranormal Blast game in partnership with Sony. Patents US 8,668,592 and US 8,777,746, included in the portfolio, are the valued IP assets Imagination Park plans to leverage for its XenoHolographic™ AR Platform and license to its clients as well as AR gaming companies from a soon to be formed wholly-owned subsidiary. Imagination Park will pay XMG Studio $50,000 in cash and five million shares for the portfolio and the transaction is anticipated to close on May 21. Imagination Park Technologies Inc.
shares IP:CNX are trading unchanged at $0.10.