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AMPD Ventures Inc
Symbol AMPD
Shares Issued 43,406,340
Close 2020-08-19 C$ 0.125
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AMPD to provide tech to Versatile Media

2020-08-20 08:51 ET - News Release

Mr. Anthony Brown reports

AMPD SIGNS LETTER OF ENGAGEMENT WITH VERSATILE MEDIA FOR MULTI-YEAR VIRTUAL PRODUCTION INFRASTRUCTURE DEAL

AMPD Ventures Inc. has signed a letter of engagement with Versatile Media Ltd. outlining the framework for a multiyear definitive agreement through which AMPD is expected to provide technology, infrastructure and services to Versatile in the rapidly burgeoning virtual production sector.

Under the terms of the engagement, it is expected that AMPD will provide the on-premise technology requirements for Versatile's initial 12,000-square-foot studio, as well as provide continuing data-centre-based rendering and other hosted infrastructure. Once a definitive agreement is entered into, the deal could generate revenue for AMPD of approximately $1.6-million over the next 36 months.

Versatile is a creative production studio developing a brand new 12,000 square ft purpose-built virtual production facility in Vancouver, B.C., Canada. Versatile is the North American arm of Versatile Media Asia, a company with over 25 years of experience in full digital movie production, and a pioneer in virtual production techniques.

Virtual production is expected to result in a major shift in the way that movies and TV shows are made because it provides creators with a way to see, engage with and shoot final VFX imagery at the same time as principal photography. With virtual production, cameras, actors and locations maybe completely synthetic but the result, thanks to many recent technological developments, can still largely follow the rules of live action filmmaking.

The process adds another level of creative control for producers and cinematographers, giving them the confidence that they have achieved their creative vision while increasing production efficiency. In addition to the creative advantages offered, COVID-19 has been seen to be accelerating the shift toward virtual production, offering the opportunity for social distancing and smaller crews, while reducing the size and scope of location shoots, set builds and crowd scenes for the foreseeable future.

"Many virtual production techniques rely on powerful, real-time game development engines that have been the cornerstone of video game production for many years," said Steven Read, studio head at Versatile in Vancouver. "AMPD's technical expertise across both the video game and visual effects sectors, and this current convergence of the two industries, mean that AMPD is the ideal technology partner for virtual production facilities such as the one we are building in Vancouver. We are also launching our virtual scouting technology enabling studios to volumetrically capture a location and share it remotely with studios through conferencing and in VR. AMPD's technology will also be a key contributor to launching that program."

"I am thrilled that Versatile has recognized AMPD as the right company to provide the technology and infrastructure as they grow their business here in North America," said Anthony Brown, chief executive officer of AMPD. "Our goal at AMPD is always to provide bespoke high performance compute and cloud solutions for our customers. We have been developing an optimal virtual production environment with Versatile that integrates their studio and our data centre so that they can focus on creative genius, while we ensure everything runs optimally from a technical perspective."

About AMPD Ventures Inc.

AMPD specializes in providing high performance cloud and computing solutions for low-latency applications, including video games and e-sports, digital animation and visual effects, and big data collection, analysis and visualization.

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