INTEGRATED MEDIA TECHNOLOGY LIMITED ANNOUNCES MOU FOR DIGITAL ASSETS AND NFT FOR CO-CONTENT DEVELOPMENT

SYDNEY and NEW YORK, April 11, 2022 /PRNewswire/ — Integrated Media Technological know-how Minimal (NASDAQ: IMTE) (“IMTE” or the “Company”), announces currently that on April 6, 2022 the Company’s subsidiary Ace Corporation Restricted (“Ace”) has entered into a Memorandum of Comprehending (“MOU”) with Developed Up Group Expenditure Holdings Minimal, a corporation listed on the Hong Kong Inventory Exchange Restricted, HKSE: 1842 (“GUGIHL”) to (i) enter into a company partnership to be co-articles builders of Non-Fungible Tokens (“NFT”) and other electronic belongings for trading on the Ouction system (ii) to have Ace’s online electronic assets exchange buying and selling industry spot (called “Ouction”) to be 1 of the partners in the metaverse to be set up by GUGIHL and (iii) GUGIHL to establish a workforce for the improvement of a metaverse.

(PRNewsfoto/Integrated Media Technology Limited)

(PRNewsfoto/Built-in Media Technological innovation Confined)

GUGIHL is initiating the growth of a metaverse concentrating on Asia and China society and art. GUGIHL intends to build up a metaverse (“Metaverse”) that can host events and exhibitions in the virtual earth. A metaverse is a electronic truth that brings together areas of social media, on-line gaming, augmented reality (AR), virtual fact (VR), and cryptocurrencies to permit people to interact just about. Augmented truth overlays visual things, sound, and other sensory input onto real-planet configurations to enrich the user expertise. In contrast, virtual truth is entirely virtual and enhances fictional realities. By employing these new systems, GUGIHL expects to be able to simulate historical cultural situations in the digital entire world.

The Corporation and GUGIHL (“Get-togethers”) concur to formalize the definitive settlement of the cooperation within just 6 months from the signing of this MOU. The Parties count on the settlement will be formalized so that ACE shall have the proper to provide and products and services GUGIHL’s Metaverse, for a period of time. GUGIHL shall bear the fees of institution and marketing the virtual galleries for a period of not considerably less than six months from the day the Metaverse has such variety of users to be agreed by the Get-togethers. All proceeds derived/obtained, including advertising and marketing and gate receipts, from the virtual galleries shall be shared 50/50 involving the Functions. The Parties will do ideal energy to come across prospective themes and contents for virtual rooms in the Metaverse. Also, once GUGIHL has concluded the enhancement or acquisition of the Metaverse, Ace shall begin promoting on its Ouction platform and to its members to share/exhibit their NFTs contents in the Metaverse. The Get-togethers shall also discover supplemental potential written content suppliers to boost the mutual desire of the Functions. The Parties will evaluate the Metaverse once accessible for testing and use for a sensible test period no significantly less than two (2) months the evaluation will contain purchaser acceptance at the Metaverse, system efficiency for efficiency, and user encounter in the Metaverse digital planet.

About Integrated Media Technology Limited (“IMTE”)

IMTE is an Australian company engaged in the business enterprise of manufacture and sale of nano coated plates for filters, the manufacture and sale of digital glass, Halal certification and distribution of Halal items, the operating of an on the internet trade system for investing in electronic property and the provision of fiscal study. For far more information and facts, please pay a visit to www.imtechltd.com.

Secure Harbor With regards to Ahead-Searching Statements

This press launch has ahead-hunting statements inside of the that means of Part 27A of the Securities Act of 1933 and Segment 21E of the Securities Trade Act of 1934, together with individuals about IMTE’s anticipations, intentions, techniques, and beliefs pertaining to long run situations or upcoming economical general performance. Genuine activities or results might differ materially from those people in the ahead-looking statements because of numerous significant aspects, like all those explained in the Firm’s most modern filings with the SEC. IMTE assumes no obligation to update publicly any this kind of ahead-searching statements, irrespective of whether mainly because of new data, potential occasions or in any other case. For a extra complete description of the challenges that could induce our actual results to vary from our present-day expectations, you should see the area entitled “Chance Variables” in IMTE’s once-a-year experiences on Form 20-F and interim studies on Type 6-K submitted with the SEC, as this sort of aspects may be current from time to time in IMTE’s periodic filings with the SEC, which are available on the SEC’s site and at http://www.imtechltd.com.

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