Imag­i­na­tion Park ar­ranges $2-mil­lion pri­vate place­ment

Stockwatch Daily - - FRONT PAGE - Mr. Alen Sil­verrstieen re­ports

IMAG­I­NA­TION PARK En­ter­tain­ment Inc. is pro­ceed­ing with a non­bro­kered pri­vate place­ment fi­nanc­ing of 16,666,666 units at a price of 12 cents per unit for gross pro­ceeds of $2-mil lio n. Cur­ren tly , the com­pany has re­ceived firm com­mit­ments from new and ex­ist­ing in­vestors as well as in­sid­ers for over $2-mil­lion. Each unit con­sists of one com mon share and o ne non-trans­fer­able share pur­chase war­rant, with each war­rant en­ti­tling the holder to pur­chase one ad­di­tional com­mon share of the com­pany for a pe­riod of up to 36 months at a price of 25 cents. In­sid­ers of the com­pany plan to par­tic­i­pate for at least 10 per cent of the pri­vate place­ment.

The pri­vate place­ment is in­tended to pro­vide a suf­fi­cient pe­riod of time for com­mer­cial­iza­tion of the com­pany’s XenoHolo­graphic Prod­uct Suite, one of the world’s first plat­form-ag­nos­tic, cloud­based aug­mented re­al­ity en­ter­prise plat­forms. Use of pro­ceeds from the pri­vate place­ment in­clude hir­ing ad­di­tional sales and mar­ket­ing per­son­nel, se­cur­ing patents, and pur­su­ing new strate­gic part­ner­ships and op­por­tu­ni­ties with lead­ing brands.

Clos­ing of the pri­vate place­ment is ex­pected to oc­cur the week of Oct. 15, 2018. All se­cu­ri­ties is­sued will be sub­ject to a four-month-an­done-day hold pe­riod. Fin­der’s fees may be paid in con­nec­tion with the pri­vate place­ment, sub­ject to the poli­cies of the Cana­dian Se­cu­ri­ties Ex­change. Man­age­ment com­men­tary “Two weeks ago, we signed one of Amer­ica’s largest malls as our first XenoHolo­graphic Prod­uct Suite cus­tomer,” said Alen Paul Sil­verrstieen, Imag­i­na­tion Park’s pres­i­dent and chief ex­ec­u­tive of­fi­cer. “We have a healthy pipe­line of over 20 prospects and be­lieve that an in­vest­ment in sales in mar­ket­ing will not only ac­cel­er­ate the sign­ing of fu­ture li­censees but also ex­pand aware­ness of how our so­lu­tion can help brands cre­ate, de­ploy and man­age unique aug­mented re­al­ity mar­ket­ing con­tent for their target au­di­ences. Man­age­ment is confident in XenoHolo­graphic Prod­uct Suite, and we are in­creas­ing our in­vest­ment in the com­pany.”

Abou t Ima gi na t i on P a rk En­ter­tain­ment Inc. Through its wholly owned sub­sidiary, XenoHolo­graphic, Imag­i­na­tion Park cre­ates novel holo­graphic con­tent and pro­vides aug­mented re­al­ity prod­ucts for phones and wear­able head­sets as well as rapid de­ploy­ment of AR so­lu­tions, with­out the need for de­vel­op­ers, while in­te­grat­ing ar­ti­fi­cial in­tel­li­gence (AI) and blockchain.

We seek Safe Har­bor.

John Ken­dall Gill­berry, Gabriel Na­pora, James Dou­glas Skip­pen

(IP) Shares: 72,781,470

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.