Film Scores Largest Three-Day Opening Gross in IMAX for Chinese Local Production

SHANGHAI, Jan. 31, 2017 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) and IMAX China Holding, Inc. (HKSE: 1970) today announced that Stephen Chow and Tsui Hark's 3D fantasy-adventure sequel Journey to the West: The Demons Strike Back blasted into the Chinese market on Saturday, January 28 – the first day of the Chinese New Year – with a three-day opening weekend gross of $8.6 million from 390 IMAX^® theatres, making it the largest three-day IMAX opening for a local-language film ever. This includes a record-setting opening-day gross of $4.5 million – the best-ever single-day gross for a Chinese local-language film in IMAX, as well as the Company's highest Chinese New Year opening day.

Overall, IMAX represented a stellar 17 of the top 20-grossing theatres in China for Journey to the West: The Demons Strike Back, including all of the film's top five locations.

"We'd like to congratulate our friends and partners Stephen Chow and Tsui Hark on this record-breaking achievement," said Greg Foster, CEO of IMAX Entertainment and Senior Executive Vice President, IMAX Corp. "Not only is this a fantastic kick-off to the Chinese New Year holiday play period, but also an incredible start to a year slated with a diverse line-up of both local-language and Hollywood films. With Journey to the West, it's clear that the combination of fun and thrilling entertainment as seen in the best possible format – IMAX – continues to be a powerful force at the box office, and we look forward to the film's enduring overall success throughout the CNY holiday and beyond."

The IMAX^® 3D release of Journey to the West: The Demons Strike Back was digitally re-mastered into the image and sound quality of The IMAX Experience^® with proprietary IMAX DMR^® (Digital Re-mastering) technology. The crystal-clear images, coupled with IMAX's customized theatre geometry and powerful digital audio, create a unique environment that will make audiences feel as if they are in the movie.

About IMAX China
IMAX China is a subsidiary of IMAX Corporation, and is incorporated under the laws of Cayman Islands. IMAX China was established by IMAX Corporation specifically to oversee the expansion of IMAX's business throughout Greater China. IMAX China trades on the Hong Kong Stock Exchange under the stock code "HK.1970."

About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.

IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo, Shanghai and Beijing. As of Sep. 30, 2016, there were 1,145 IMAX theatres (1,037 commercial multiplexes, 16 commercial destinations and 92 institutions) in 74 countries. On Oct. 8, 2015, shares of IMAX China, a subsidiary of IMAX Corp., began trading on the Hong Kong Stock Exchange under the stock code "HK.1970."

IMAX^®, IMAX® 3D, IMAX DMR^®, Experience It In IMAX^®, An IMAX 3D Experience^®, The IMAX Experience^® and IMAX nXos^® are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).

This press release contains forward looking statements that are based on IMAX management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. These risks and uncertainties are discussed in IMAX's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.

For additional information please contact:

Media:
IMAX Corporation - New York
Ann Sommerlath
212-821-0155
asommerlath@imax.com

Entertainment Media:
Principal Communications Group - Los Angeles
Melissa Zukerman/Paul Pflug
323-658-1555
melissa@pcommgroup.com
paul@pcommgroup.com

Investors:

IMAX Corporation – New York

Jessica Kourakos

212-821-0110

jkourakos@imax.com

IMAX China - Shanghai

Kenneth Ke

86-21-2315-7110

kke@imax.com

Business Media:

Sloane & Company – New York

Whit Clay

212-446-1864

wclay@sloanepr.com

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SOURCE IMAX Corporation