Mr. Alen Silverrstieen reports

IMAGINEAR DISCUSSES $535,000 IN BOOKED AUGMENTED REALITY CONTRACTS YEAR TO DATE, 3-YEAR MOU FOR GLOBAL ICONS & OTHER MATTERS IN CORPORATE UPDATE

Imagine AR Inc. has provided investors with the following spring corporate update.

Contracts totalling $535,000 booked year to date

The company is pleased to announce that it continues to commercialize its leading augmented reality solutions with $535,000 in contracts booked to date for this fiscal year.

In addition to these booked contracts, the company recently announced this MOU:

MOU with global digital publishing company for minimum of 10 licences in 2023 to global icons

On March 1, the company announced a memorandum of understanding (MOU) with a global digital publishing company to purchase a minimum of 10 and a maximum of 25 three-year SDK mobile app licences in 2023.

Once the formal contract is signed, the SDK licences are expected to generate revenue in the range of $200,000 to $414,000 per year for three years.

The mobile app licences are intended to power top icons in sports, music, entertainment and gaming, which the company believes will generate additional attention for its augmented reality technology from global users.

Existing clients adding new immersive engagements

Over the past year ImagineAR has announced agreements with renown clients such as the Baltimore Ravens, Jet Media, HipHopHall of Fame and Learfield/SideARM Sports. The company is pleased to advise it is in discussions to develop additional immersive engagements as a result of the technical proficiency of its augmented reality solutions.

Company president and chief executive officer Alen Paul Silverrstieen stated: "Despite the deeply challenging capital markets environment for small cap companies, we continue to execute very well on the one thing we can control -- our world-class augmented reality technology. Our booked contracts in this fiscal year, as well as the pending deals above, is reinforces our belief that we have the right solution to meet the paradigm shift of augmented reality."

Mr. Silverrstieen continued: "In order to make sure we maintain the resources necessary to continue delivering this success we have significantly reduced expenses and are actively engaged in financing discussions with strategic investors that have already yielded commitments above our current share price. Moreover, with some strategic money in place, we are considering providing our shareholders with an opportunity to participate through the new financing exemption that provides them with free trading shares and warrants to participate in our growth. This has previously not been available to non-accredited investors."

The company has filed its audited 2023 financial statements and MD&A (management's discussion and analysis) for the period ending Feb. 28, 2023, on SEDAR.

The company would like to announce that M. Coffin has resigned as a board of director. The company would like to thank him for his years of dedication as an officer and wishes him well in his future endeavors. ImagineAR's board plans to fill the vacated seat within the coming months.

About ImagineAR Inc.

ImagineAR is an augmented reality (AR) platform that enables sports teams and businesses of any size to create and implement dynamic mobile AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds. Customers point their mobile devices at logos, signs, buildings, products, landmarks and more to instantly engage videos, information, advertisements, coupons, 3-D holograms and any interactive content, all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means that all customer interaction is tracked and measured in real time. The AR Enterprise platform supports both IOS and Android mobile devices and coming wearable technologies.

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