Moving iMage Technologies Wins Award to Provide Equipment for New Alamo Drafthouse Cinema Location in St. Louis

New St. Louis location currently scheduled to open in Summer 2022

Location marks the 38^th Alamo location to be equipped by MiT

FOUNTAIN VALLEY, Calif.--(BUSINESS WIRE)--Moving iMage Technologies (NYSE American: MITQ) (“MiT”), a leading digital cinema technology company, today announced it has been awarded the contract from Alamo Drafthouse Cinema to provide equipment and furnishings for the new Alamo Drafthouse – City Foundry in St. Louis, MO.

“We are excited to expand our relationship with Alamo and its franchisees to provide a superior cinema experience for their customers,” said Bevan Wright, executive vice president, operations at MiT. “As more consumers return to theatres, we believe that new, state-of-the-art theatres with strong amenities like the Alamo St. Louis – City Foundry location will flourish, and MiT will continue to support our customers in their success.”

John Martin and Marc Evans, franchise owners and managing partners of Rock Ridge Principals, operator of the Alamo Drafthouse – City Foundry stated, “Their past experience supporting our growth with Alamo was second to none in the industry, so MiT was the logical choice to be our technology provider for this new site.”

As part of the agreement with Alamo Drafthouse City Foundry, MiT will provide, install and project manage all projection and sound equipment for a new ten-screen state-of-the-art cinema, which is currently scheduled to open in Summer 2022. The equipment will include a full complement of MiT manufactured products—bases, dimmers, automations, power filtering and AV distribution electronics.

The advanced network integrated Max Flex AV system being installed here by MiT allows simultaneous broadcasting of events to multiple auditoriums inside the theatre for eSports, concerts and other streaming live events. This technology enables additional revenue streams for the exhibitor by maximizing the use of the digital cinema network infrastructure.

In connection with this project, MiT will also be providing, integrating and installing projection and audio cinema products from Barco, Dolby, QSC and GDC, along with auditorium interior finishes, including screens, drapery, carpeting and LED aisle lighting.

About Moving iMage Technologies

Moving iMage Technologies is a leading manufacturer and integrator of purpose-built technology solutions and equipment to support a wide variety of entertainment applications, with a focus on motion picture exhibition. MiT offers a wide range of products and services, including custom engineering, systems design, integration and installation, enterprise software solution, digital cinema, A/V integration, as well as customized solutions for emerging entertainment technology. MiT’s Caddy Products division designs and sells proprietary cup-holder and other seating-based products and lighting systems for theaters and stadiums. For more information, visit www.movingimagetech.com.

About Alamo Drafthouse Cinema

Alamo Drafthouse Cinema is a high-end American dine-in cinema chain founded in 1997 in Austin, Texas, that is famous for serving dinner and drinks during the movies. Each Alamo Drafthouse location’s menu features burgers, pizzas, salads, snacks and desserts prepared fresh from locally sourced ingredients. Plus, our chefs regularly create special menus inspired by classic cinema and big upcoming blockbusters.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including, but not limited to, the timing of the opening of the Alamo Drafthouse Cinema location. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including the timing of the opening of the new theater, potential project delays or cancellations and those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the SEC. Copies of these documents are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.