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Monday 29 February, 2016

Gate Ventures PLC

£1million investment in Infinity House Productions

RNS Number : 3882Q
Gate Ventures PLC
29 February 2016
 

Press Release

29 February 2016

 

 

Gate Ventures Plc

 

("Gate Ventures" or the "Company")

 

£1million investment agreement with virtual reality content provider Infinity House Productions Limited

("Infinity House Productions" or "Infinity")

 

Gate Ventures Plc is pleased to announce it has entered into an Agreement with Infinity House Productions Limited, by which Gate will invest £1 million in return for a 61% stake in Infinity, a virtual reality content provider.

 

Infinity was founded by successful television producers Rosemary Reed and Corrina McCann in 20 May 2014 and is the parent company of Infinite 360° VR, an innovative film and television production house using the latest technology to create virtual reality content for film, television, concert, and theatre. Virtual reality involves wearing a headset, which resembles a pair of goggles, and which simulates a 360 degree physical presence located in the real world or an imagined world, thus creating the illusions of being embedded in the filmed environment.    

 

Dr Johnny Hon, Chairman of Gate Ventures PLC, said: " The investment in Infinity has great synergy with Gate's other investee companies, and will advance the Company's position as an innovative leader in the entertainment industry.  The Board will work closely with Infinity House Productions to explore further expansion opportunities in order to effectively promote and capitalise on the increasing interest in virtual reality content."

 

Infinity House Productions has already partnered with high profile producers and actors in the entertainment industry, with its content distributed by major television networks including Sky TV, Variety and Channel 4.  Its renowned production, the 27 episodes "Living the Life" series, is a virtual reality talk show that featured hosts and interviewees including Andrew Lloyd Webber, Stephen Fry, Bill Wyman, Sir Tim Rice, Jeremy Clarkson and Bridget Nielsen.  The show was broadcast on UK's Sky Art network.

 

Infinity is also a content supplier for Oculus, a technology company acquired by Facebook for $2 billion in May 2014 that focuses on developing virtual reality headsets.

 

Whilst virtual reality technology has advanced rapidly and has attracted funding from high profile investors, there has been relatively little focus on producing content for virtual reality platforms.  The Board of Gate Ventures believes this investment and partnership with Infinity House Productions represents a strong opportunity for Gate to benefit from the growing and foreseeable demand for virtual reality content as virtual reality technology and popularity advance.

 

Infinity House Productions is also currently in discussion with numerous major virtual reality distributors, including Microsoft, Sony, Apple and Samsung, to distribute and promote Infinity House Productions content on their respective platforms.  The Company also produces and operates 'Virtual Reality Retreat', the first member club house in the United Kingdom that provides its members with virtual reality health and well-being experiences including meditation, motivation, relaxation and fitness lessons.

 

Gate Ventures intends to leverage its network of other existing and potential investee companies to distribute Infinity House Productions content. 

 

 

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Issued by: 

Gate Ventures Plc

Tel: +44 (0) 20 7016 9963

Geoff Morrow, CEO

www.gateplc.com

 

Infinity House Productions Ltd

Tel: +44 (0) 7734 249 510

Corrina Mccann, CEO

www.infinite360.co.uk

 

 

Media enquiries

Abchurch Communications Limited

 

Canace Wong / James Burman

Tel: +44 (0) 20 7398 7714

[email protected]

www.abchurch-group.com

 

 

 

 

Notes to Editors

 

Infinity House Productions

Infinity House Productions is the owner of Infinite 360° VR, a video and filming production house using virtual reality technology to create the most powerfully unique entertainment experiences for its audiences.  The team has produced and directed acclaimed television and digital productions, and continue to create high quality content for brands that narrate, and captivate global audiences.

Infinite 360° VR  assist its clients from the conception of their ideas through filming, post-production, app development and release, providing the guidance they may need in order for their content to be successfully received and financially profitable. 

Infinity House has consistently worked with some of the most prestigious and respected names in the entertainment industry. 

 

Gate Ventures Plc

 

 

The Company was formed to make investments and capitalise on investment opportunities in the media and entertainment sectors. Since the formation of the Company, the Board has requested shareholder approval to expand its business strategy to include the fashion retail sector, the television element of the media and entertainment sectors, e-commerce as well as consultancy and operational activities. The proposal was approved by its investors in its EGM on 27 August 2015.   The Board believes the expansion of the Company's business strategy will add significant shareholder value. The Company intends to focus on investment and operational opportunities primarily in the UK and China, however other territories will also be considered as opportunities arise.

 

 

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