Cinemark commits to deploying the D-BOX Technology in 80 Additional Screens
LONGUEUIL, QUÉBEC--(Marketwired - Dec. 22, 2015) - Cinemark Holdings, Inc., a leading U.S. and international motion picture exhibitor ("Cinemark") (NYSE:CNK) and D-BOX Technologies Inc. (TSX:DBO) ("D-BOX"), a leader in innovative motion technology, confirm today that Cinemark has committed to installing D-BOX motion systems in at least 80 new screens in 40 theatres over the next 24 months. The majority of these screens will be installed in the United States and some will be deployed in Latin America. Cinemark currently has 112 D-BOX screens installed or in backlog in the United States and Latin America.
Terms of the agreement include a fee based on the utilization of the systems. In addition, D-BOX is issuing 2,000,000 common share purchase warrants to Cinemark, with each warrant entitling the holder thereof to acquire one Class A common share of D-BOX at a price corresponding to the volume weighted average price of the Class A common shares of D-BOX on the Toronto Stock Exchange for the five trading days prior to the exercise date of the warrants. The warrants will vest at the same rate as the D-BOX deployment and will be valid for a period of seven years ending on December 22, 2022.
Commenting on the news, Claude Mc Master, President and Chief Executive Officer of D-BOX, declared: "We are very pleased to receive another strong endorsement from Cinemark, a leading world-class exhibitor. They have been staunch supporters of ours and lead the way for exhibitors looking to offer a unique and immersive experience that is straightforward to deploy in any theatre around the world".
"Based on the strong moviegoer reaction and ticket sales generated, we are pleased to further expand our D-BOX footprint," stated Robert Copple, Cinemark's President and Chief Operating Officer. "We are proud to be the largest exhibitor in the world in terms of D-BOX equipped venues and look forward to our continued partnership with D-BOX as they continue to expand globally."
ABOUT CINEMARK HOLDINGS, INC.
Cinemark is a leading domestic and international motion picture exhibitor, operating 507 theatres with 5,746 screens in 41 U.S. states, Brazil, Argentina and 12 other Latin American countries as of September 30, 2015. For more information go to investors.cinemark.com.
D-BOX Technologies Inc. designs, manufactures and commercialize cutting-edge motion systems intended for the entertainment and industrial markets. This unique and patented technology uses motion effects specifically programmed for each visual content which are sent to a motion system integrated into either a platform, a seat or any other product. The resulting motion is perfectly synchronized with the on-screen action, thus creating an unparalleled realistic immersive experience.
D-BOX®, D-BOX Motion Code®, LIVE THE ACTION®, MOTION ARCHITECTS® and MOVE THE WORLD® are trademarks of D-BOX Technologies Inc. Other names are for informational purposes only and may be trademarks of their respective owners.