TORONTO, ON -- Cineplex Entertainment (TSX: CGX) and IMAX Corporation (NYSE: IMAX) (TSX: IMX) today announced an agreement under which Cineplex will acquire three new digital IMAX® systems in addition to upgrading seven of its existing IMAX film-based projectors to digital IMAX systems. The three new theatres will be located in Winnipeg, Manitoba, at SilverCity Polo Park Cinemas (opening July 1), and in Ontario at SilverCity Windsor Cinemas (opening July 15) and SilverCity Ancaster Cinemas (opening this fall).
"Our IMAX theatres have always been very well received by our theatre guests," said Ellis Jacob, President and CEO, Cineplex Entertainment. "We are pleased to extend the premium IMAX Experience® to new audiences in Southern Ontario and Winnipeg, and to upgrade seven of our existing IMAX projection systems to digital, bringing our total IMAX locations to 12."
"We are happy to enter into this expanded deal with Cineplex, which has been a long-standing and successful exhibitor partner for IMAX in Canada," said Richard L. Gelfond, CEO of IMAX Corporation. "We are particularly pleased that two of the new Cineplex IMAX locations will open in time to benefit from the exciting slate of summer blockbusters scheduled to be released in the IMAX format, such as the July releases of Transformers 3: An IMAX® 3D Experience and Harry Potter and the Deathly Hallows Part 2: An IMAX®3D Experience."