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AMPD Ventures Inc. Announces the Signing of a Definitive Reseller Agreement with Zhejiang Versatile Media Co Ltd. and Versatile Media Inc. to be the Worldwide Reseller of the Versatile Virtual Production System

Monday, February 28, 2022 7:30 AM
AMPD Ventures Inc.

VANCOUVER, BC / ACCESSWIRE / February 28, 2022 / AMPD Ventures Inc. ("AMPD" or the "Company") (CSE:AMPD)(OTCQB:AMPDF)(FRA:2Q0), a next-generation digital infrastructure provider, is pleased to announce that it has signed a definitive agreement with Zhejiang Versatile Media Co Ltd. ("Versatile") to market and supply the Versatile Virtual Production System to the world. Versatile, in conjunction with its North American subsidiary, Versatile Media Inc., based in Vancouver BC, has developed a leading edge virtual production system that has been ‘built by film makers for film makers.' The Versatile Virtual Production System is a robust, end-to-end suite of technology solutions that offers many advantages over current virtual production workflows that will help accelerate the paradigm shift towards real-time, in-camera visual effects and environments.

In virtual production, video game engine technology, such as Epic Games' Unreal Engine, is used to display digital environments complete with many visual effects already in place, on large LED walls or in virtual reality environments. Creative teams can adjust elements such as the time of day and lighting, and place assets such as digital characters and scenery into a scene in real time while they shoot actors performing in front of the screens. The process enables creative teams to ensure their vision is being realized in real time without needing to wait months for post-production teams to add visual effects to green-screen based shoots.

The Versatile Virtual Production System offers a range of additional features and technical improvements that appeal directly to film makers, such as higher performing LED panels running at increased framerates and resolutions with a patented control system that facilitates intuitive depth of field adjustments and precise lighting controls, in-built camera tracking, and no camera frustrum for full resolution shoots.

AMPD Ventures Inc., Monday, February 28, 2022, Press release picture
AMPD Ventures Inc., Monday, February 28, 2022, Press release picture

Versatile Virtual Production LED

"The impact of virtual production to the film and television industry has already been immense," comments Steven Read, Studio Head of Versatile Media Inc. "The combination of a higher demand for content coming from the likes of Netflix, and the ability to shoot a much broader range of shots on a sound stage than ever before has created a massive global demand for LED virtual production stages. We are pleased to partner with the team at AMPD, who has been servicing the needs of the digital media and movie industries for decades, to promote and support our Versatile Virtual Production System to companies around the world."

"The technology Versatile has developed represents a true leap forward in virtual production," said Anthony Brown, CEO and co-founder of AMPD Ventures. "We are very pleased to have been chosen by Versatile as a partner to bring their technology, alongside our High Performance Edge computing to power the LED walls, to Canada and the rest of the world."

About Zhejiang Versatile Media Co Ltd.

Zhejiang Versatile Media Co Ltd., is a company with nearly 30 years of experience in full digital movie production, and a pioneer in virtual production techniques.

About Versatile Media Ltd.

Versatile Media Ltd. in Vancouver, Canada is a creative virtual production studio with its main offices located in their brand new 12,000 sq. ft purpose-built virtual production facility in the Port Town neighbourhood servicing both animation and live action virtual productions and developing original IP and co-productions. It is the North American subsidiary of Zhejiang Versatile Media Co Ltd.

About AMPD Ventures Inc.

AMPD is a next-generation infrastructure company specializing in providing high-performance computing solutions for low-latency applications. With state-of-the-art, high-performance computing solutions hosted in sustainable urban data centres, AMPD is leading the transition to the next generation of computing infrastructure as ‘the hosting company of the Metaverse.' Through a mix of infrastructure as a service ("IaaS") and an upgraded, high-performance cloud offering, we are meeting the low-latency requirements of multiplayer video games and eSports, computer graphics rendering, artificial intelligence, machine learning, mixed reality, big data processing, and the as-yet uncharted technological developments of the coming decades. Additional information about the company is available on SEDAR and our website at http://www.ampd.tech.

For further information please contact Investor Cubed Inc.:

Neil Simon, CEO
Telephone: (647) 258-3310
Email: [email protected]

ON BEHALF OF THE BOARD OF DIRECTORS

/s/ "Anthony Brown"

Anthony Brown
CEO & Director
AMPD Ventures Inc.
Telephone: 604-332-3329
Email: [email protected]

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

Forward Looking Statements

This news release contains statements and information that constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of our management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Forward-looking statements or information herein include, but are not limited, to statements or information with respect to the Company's relationship with Versatile, and the future use, marketability, and benefits of the Versatile technology, AMPD products and services incorporating the Versatile technology, and other AMPD products and services.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of AMPD to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, geopolitical, technological and social uncertainties; uncertainties in regard to the development and direction of cloud computing solutions and virtual production; the possibility of competing superior technology; uncertain capital markets; other risks related to the inability of a party to perform its obligations under the share purchase agreement, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Form 2A Listing Statement dated October 17, 2019 and "Risk and Uncertainties" in the Company's most recent Management Discussion and Analysis filed on SEDAR.

Although the forward-looking information is based on our management's reasonable assumptions at the date such statements are made, there can be no assurance that the Versatile agreement will generate the benefits anticipated, or that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. AMPD does not undertake to update or revise any forward-looking information, except in accordance with applicable securities laws. All forward-looking information contained in this news release is qualified by this cautionary statement.

SOURCE: AMPD Ventures Inc.

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