Cinemark Holdings Commits to Installing D-Box Technologies Motion Systems in 40 Theatres

Cinemark Holdings Inc will install D-Box Technologies Inc. (CVE:DBO) motion systems in at least40 theatres over the next two years.
According to the press release:

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”.

Click here to read the full press release.