Zadar/XRApplied Provides Corporate Update

VANCOUVER, British Columbia, Dec. 14, 2020 (GLOBE NEWSWIRE) -- Zadar Ventures Ltd. (the “Company”) (TSX. V - ZAD) (OTCQB - ZADDF) (Frankfurt – ZAV0.F) would like to take this opportunity to update its current and future shareholders. We are pleased to announce that we have received shareholder approval for the proposed acquisition by the Company of XRApplied SAS, which was announced July 31, 2020.

We have also filed a preliminary listing statement with the CSE under the name XRApplied Technologies Inc (“XRA”). Under the terms of our agreement, we will raise a minimum $700,000 and a maximum $3,500,000 at a price of $0.35 per unit by way of a non-brokered accredited investor private placement. Each unit consists of one common share and one share purchase warrant exercisable at $0.75 during the first year and $1.00 the second year.

The Company is excited to launch its new corporate website - www.xrapplied.com

About XRApplied Technologies Inc. (XRA)
XRA is an immersive technology solutions provider that specializes in bringing cost-efficient AR/VR e-commerce applications to businesses large and small. We accomplish this through a suite of proprietary products and services (AR catalog, toy gamification, AR App e-commerce, AR/VR interactive games) that we bring to the masses via our exclusive XRA Marketing Platform.

Company Chairman Mark Tommasi states, “We are thrilled to be moving forward with this acquisition in a time when AR/VR/MR technologies are disrupting every industry as we know it, and we strongly believe that we have found the right team and project to position us in this market. We are looking forward to launching a series of game changing business applications and consumer games in the AR/VR/MR space over the coming months.”

The Company advises that the transaction will acquire regulatory approval, and there is no assurance that the transaction will close. The Company will file all the necessary documents for approval of a change of business.

ON BEHALF OF THE BOARD OF DIRECTORS
Mark Tommasi
Chairman
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Specifically, there is no assurance the Company will be able to (i) raise the necessary funds to close the transaction, (ii) obtain regulatory approval, or (iii) satisfy all conditions and close the transaction. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

ZADAR VENTURES LTD.
908-510 Burrard St
Vancouver, B.C. V6C 2A8
Phone: [phone]