Cineplex Inc. (TSX:CGX)
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5 Years : From Aug 2011 to Aug 2016
Cineplex Entertainment (TSX:CGX) today announced plans to build a second cinema in Barrie, Ontario. The 31,000 square foot Galaxy Cinemas North Barrie will feature eight screens and 1,600 seats - and include Barrie's first UltraAVX(TM) auditorium.
The cinema will be located at Highway 400 and Duckworth Street, as part of the North Barrie Crossing Shopping Centre development. It is expected to open in late 2014.
"Galaxy Cinemas North Barrie will complement our existing cinema in the south end of the city," said Ellis Jacob, President and Chief Executive Officer, Cineplex Entertainment. "The combination of an avid movie-going public and the continued growth of the community make north Barrie a perfect fit for this cinema."
Galaxy Cinemas North Barrie will feature fully digital projection, and RealD 3D technology.
Guests attending a movie in an UltraAVX(TM) auditorium will be treated to a wall-to-wall screen, superb 7.1 Dolby digital surround sound, extra wide high-back rocker seats and reserved seating.
"Cineplex Entertainment is one of Canada's top retail traffic drivers and an anchor tenant for North Barrie Crossing Shopping Centre," said Leger Xavier, Vice President, Development and Leasing, PenEquity Realty Corporation, on behalf of the shopping centre owners. "We look forward to welcoming Canada's largest and most successful theatre operator to the north Barrie community."
Construction of Galaxy Cinemas North Barrie is expected to begin in early 2014.
UltraAVX(TM) provides guests with the sharpest picture, a powerful digital surround sound system and reserved seating, delivering a truly immersive movie-going experience. UltraAVX(TM) features wall-to-wall screens that are significantly larger on average than our traditional screens. Christie Solaria(TM) Series 4230 DLP Cinema® projectors provide a superior digital presentation, projecting super bright, crystal clear images onto the big screen.
The system is further enhanced with the addition of RealD 3D technology, enabling the presentation of the latest 3D movies. Complementing the stunning on-screen picture from these new 4K projectors is a superb 7.1 Dolby digital surround sound system that envelops the audience and takes the cinema experience to a whole new level. Guests will enjoy the super comfy high-back rocker seats. Because all seats are reserved, guests can select the specific seat(s) they want in the auditorium when they purchase their tickets.
About Cineplex Entertainment:
Cineplex Inc. ("Cineplex") is one of Canada's leading entertainment companies and operates one of the most modern and fully digitized motion picture theatre circuits in the world. A top-tier Canadian brand, Cineplex operates numerous businesses including theatrical exhibition, food services, gaming, alternative programming (Front Row Centre Events), Cineplex Media, Cineplex Digital Solutions and the online sale of home entertainment content through CineplexStore.com and on apps embedded in various electronic devices. Cineplex is also a joint venture partner in SCENE - Canada's largest entertainment loyalty program.
Cineplex is headquartered in Toronto, Canada, and operates 133 theatres with 1,438 screens from British Columbia to Quebec, serving approximately 70 million guests annually through the following theatre brands: Cineplex Odeon, SilverCity, Galaxy Cinemas, Colossus, Coliseum, Scotiabank Theatres, Cineplex VIP Cinemas, Famous Players and Cinema City. Cineplex also owns and operates the UltraAVX, Poptopia, and Outtakes brands. Cineplex trades on the Toronto Stock Exchange under the symbol CGX. More information is available at www.cineplex.com.
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