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IMAX shares higher after company expands partnership with Cineplex

Published 08/24/2017, 01:16 PM
© Reuters.  IMAX shares higher after company expands partnership with Cineplex
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Investing.com - Imax Corp (NYSE:IMAX) and Cineplex have expanded their partnership, signing an agreement new agreement for the installation of two new IMAX auditoriums in Canada as well as a new IMAX VR Centre.

The two IMAX auditoriums will be located in Toronto, Ontario, and Regina, Saskatchewan. They are expected to open in November 2017, bringing the total number of IMAX auditoriums in Cineplex theatres in Canada to 25.

In addition, the two companies are also working together to install Canada's first IMAX VR Centre at Cineplex's Scotiabank Theatre Toronto. IMAX launched its flagship pilot IMAX VR Centre in Los Angeles and its second location in New York City. The Company is set to open up to eight additional centres in 2017.

IMAX shares were up nearly 4% Thursday afternoon.

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