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ImagineAR Inc
Symbol IP
Shares Issued 204,230,718
Close 2023-05-29 C$ 0.04
Market Cap C$ 8,169,229
Recent Sedar Documents

ImagineAR closes $425,875 private placement

2023-05-29 11:24 ET - News Release

Mr. Alen Silverrstieen reports

IMAGINEAR ANNOUNCES CLOSING OF PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $425,875

ImagineAR Inc. has closed a non-brokered private placement financing of 12,905,315 units at a price of 3.3 cents per unit for gross proceeds of $425,875.

Each unit will be composed of one common share and one non-transferable common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of five cents for a period of 36 months from the closing of the offering. In accordance with applicable Canadian securities laws, all securities issued pursuant to the private placement with a hold period of four months and one day from the date of issuance.

ImagineAR intends to use the net proceeds from the proposed private placement to enhance its SDK (software development kit) technology, sales and marketing support, and develop AI (artificial intelligence) integration proof-of-concept immersive AR (augmented reality) activations.

ImagineAR SDK new release

The company is launching a new release of the drop-in native SDK integration for iOS and Android mobile apps. This major release, currently scheduled for summer launch with the NFL Baltimore Ravens, will feature many new features/functions and an enhanced AR scavenger hunt.

"This significant SDK release makes it faster and economical for clients and partners to integrate our AR platform directly into their mobile app, with reduced technical resources and time frame," stated Alen Paul Silverrstieen, chief executive officer of ImagineAR.

Ferencvarosi Torna club flutter integration

The company has postponed the ImagineAR SDK flutter integration for the Hungarian soccer champion Ferencvarosi Torna proof of concept. Technical resources had been allocated to complete the new drop-in SDK to achieve the June deadline.

This news release is available on the company's official verified discussion forum on Agoracom, a moderated social media platform that enables civilized discussion, and questions and answers between management and shareholders.

About ImagineAR Inc.

ImagineAR has developed an AR-as-a-service platform that enables sports teams and organizations of any size to create and implement their own AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds using ImagineAR. Customers simply point their mobile device at logos, signs, buildings, products, landmarks and more to instantly engage with videos, information, advertisements, coupons, 3-D holograms and any interactive content, all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics mean that all customer interaction is tracked and measured in real time. The ImagineAR mobile app is available in the iOS and Android mobile app stores. The platform is available as a native-mode SDK.

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