06:05:15 EDT Thu 20 Jun 2024
Enter Symbol
or Name

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ImagineAR Inc
Symbol IP
Shares Issued 204,230,718
Close 2023-10-30 C$ 0.035
Market Cap C$ 7,148,075
Recent Sedar Documents

ImagineAR closes $770,700 private placement

2023-10-31 15:54 ET - News Release

Mr. Alen Silverrstieen reports


ImagineAR Inc. has closed its previously announced (see press release dated Oct. 17, 2023) non-brokered private placement financing. The company issued 36,700,000 Units (the "Units), at a price of $.021 per Unit for gross proceeds of $770,700.00.

Each Unit is comprised of one (1) common share and one (1) non-transferable common share purchase warrant (the "Warrant"), with each Warrant entitling the holder to purchase one additional common share at a price of $0.05 for a period of thirty-six (36) months from the closing of the Offering. In accordance with applicable Canadian securities laws, all securities issued pursuant to the private placement will be legended with a hold period of four months and one day from the date of issuance.

ImagineAR intends to use the net proceeds from the private placement for operations and sales marketing of products.

A total of $6,216 finder's fees will be paid, and 296,000 broker's warrants will be issued in connection with the private placement.

About ImagineAR

Imagine AR Inc. (CSE: IP) (OTC: IPNFF) 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, 3D holograms and any interactive content, all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means 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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