March 16th , 2020 Vancouver, British Columbia. Zadar Ventures Ltd. (the “Company”) announces that further to its news release of January 21, 2020 wherein the Company advised it was seeking business opportunities in technologies relating to Fintech and Artificial Intelligence (AI), the Company advises it is in discussions to acquire a French based company involved in “extended reality” or “XR” through the convergence of augmented reality (AR) and virtual reality (VR), and plans to apply the concepts to an XR hardware agnostic SKD platform that it has developed.
This unique solution removes the barrier to entry for XR and enables businesses and clients to build an engaging brand experience across multiple platforms at an affordable cost. Businesses in any vertical can now engage customers, employees, and clients across any platform with engaging interactive AR and VR content. This means that a business can leverage one single set of assets to build unique e-commerce platforms, presentations, training applications, games, and more – in AR and VR.
Company Chairman Mark Tommasi states, “As part of our commitment to our shareholders to bring them maximum value, we continue to evaluate opportunities, and the AR/VR space is an exciting opportunity in an early stage growth market. In today’s current conditions of ever-growing travel restrictions due to viruses like COVID 19, AR/VR conferences and corporate presentations will become ever more important.”
The Company advises that it is in the due diligence phase of its review of this business opportunity, and there is no assurance it will be successful in negotiating a definitive agreement to acquire this business, on terms acceptable to the Company, or at all.
ON BEHALF OF THE BOARD OF DIRECTORS
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This press release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company’s disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.