IMAX, Better Life Sign Two-Theatre Sales Deal In China

IMAX Corporation

today announced an agreement with Better Life Commercial Chain Share Co. Ltd., (Better Life) a multi-format retailer, for two new IMAX® theatres in China's Hunan province to be operated by its joint venture, Hunan Shengshi Entertainment Culture Investment Co. Ltd.  One theatre will be located in the city of Xiangtan and another in the city of Changsha, Hunan's capital. This marks the Company's first agreement with Better Life Commercial Chain Share Co. Ltd., a leading commercial developer in China that operates supermarkets, department stores, convenience stores and commercial complexes. "We have a robust growth plan to develop several shopping malls in China over the next few years, which will include approximately five to six multiplexes every year," said Wang Tian, Chairman, Better Life Commercial Chain Share Co. Ltd. "IMAX is a world-renowned brand embraced by moviegoers in China as the best way to experience movies. As such, we expect IMAX will serve as a key entertainment attraction for our new complexes in Xiangtan and Changsha and also look forward to making IMAX a part of our upcoming developments." "Among commercial developers,