Tickers: XCNQ:IP, PINX:IPNFF
Tags: Entertainment, Media
Vancouver, CANADA / TheNewswire / August 9, 2018 – Imagination Park Entertainment Inc. (CSE: IP) (OTC: IPNFF) (FRA: GMS1) ("Imagination Park" or the "Company") is pleased to announce it has closed a non-brokered private placement financing (the "Private Placement") for total gross proceeds of $ 555,000.
The Company has allotted and issued 3,700,000 units (the "Units") at a price of $ 0.15 per Unit. Each Unit is comprised of one common share and one 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 thirty-six months at a price of $ 0.25.
The proceeds of the Private Placement will be used to aid in the Company’s ongoing efforts to create and deliver transformational experiences through the production and distribution of intellectual property for film and virtual reality, mixed reality and augmented reality technology as well as for general corporate purposes. All securities issued under the Private Placement are subject to a four-month and one-day hold period expiring on December 10, 2018.
Further, the Company has returned to treasury a total of 100,000 common shares and 100,000 common share purchase warrants issued pursuant to a private placement financing closed on May 16, 2018 due to non-payment from the subscriber.
About Imagination Park
An emerging leader in digital content production, Imagination Park creates and delivers transformational experiences through the production and distribution of intellectual property for film, virtual reality, augmented reality & mixed reality in North America and China.
Through its wholly-owned subsidiary, XenoHolographic, it 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.
ON BEHALF OF THE BOARD,
Alen Paul Silverrstieen
President & CEO
We encourage you to do your own due diligence and ask your broker if Imagination Park Entertainment Inc. (CSE: IP) is suitable for your particular investment portfolio*.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
This press release may include ‘forward-looking information’ within the meaning of Canadian securities legislation, concerning the business of the Company. The forward-looking information is based on certain key expectations and assumptions made by Imagination Park’s management. Although Imagination Park believes that the expectations and assumptions on which such forward- looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Imagination Park can give no assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and Imagination Park disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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