IMAGINEAR INC - IPNFF STOCK NEWS

ImagineAR (CSE: IP) (OTCQB: IPNFF) has clarified details of its convertible note financing announced on August 30, 2024. The convertible notes and interest can be converted into units at $0.05 per unit at any time by the holder or automatically. Each unit comprises one common share and one warrant, with the warrant exercisable into one common share at $0.07 for three years from the issue date. The company has received $125,000 for the first tranche and plans to issue the convertible notes on September 9, 2024. No finders fees or commissions will be paid. The company emphasizes that this press release is not an offer to sell or solicitation to buy securities, and the securities have not been registered under the U.S. Securities Act of 1933.

ImagineAR (CSE: IP) (OTCQB: IPNFF) has announced the closure of the first tranche of a $1.1 million convertible note financing. The funds will support three major initiatives: Location-Based Entertainment, AI integration with AR, and Patent Enforcement & Licensing. The financing terms include:

- Three tranches: Initial $125,000 on August 30, 2024, and $975,000 in two subsequent tranches by October 31, 2024
- 12% annual interest rate, payable quarterly or on maturity/conversion
- 24-month maturity from issue date
- Automatic conversion to common shares at $0.05 per share
- Company option to convert within 30 days if shares trade at or above $0.20 for 20+ consecutive days after 4 months from issuance

Securities are subject to a four-month statutory hold period. This offering is not available in the United States or to U.S. persons.

ImagineAR Inc. (CSE: IP) (OTCQB: IPNFF) has announced the issuance of 750,000 stock options to its CFO and consultants. These options are exercisable at $0.05 per share and have a 3-year expiration period. The company stated that this grant is in accordance with its existing stock option plan. This move may be seen as a way to incentivize key personnel and align their interests with those of the shareholders.

ImagineAR Inc. provides its Spring 2024 corporate update, highlighting discussions with legal firms for patent portfolio licensing, a significant SDK license agreement with an AI company, and successful integration of AR player holograms with a UK soccer team's mobile app.

ImagineAR (IPNFF) signs a three-year SDK platform license agreement with S3iai, valued at $203,397, to deliver immersive AR experiences integrated with GenAI interactions for a client project, marking a significant step towards the next generation of AR solutions.

Imagine AR Inc. grants 3,000,000 stock options to a Director, exercisable at $0.07 per share for 3 years, in line with the company's stock option plan.

Imagine AR Inc. (CSE: IP) (OTCQB: IPNFF) is a Vancouver-based Augmented Reality Company focused on enabling sports teams, businesses, and organizations to create mobile phone AR campaigns. The company has raised $1,196,575 in capital in 2023, exceeding expectations. ImagineAR plans to integrate Generative AI into its Global SDK Platform and expand into new markets such as college, retail, entertainment, and casino gaming in 2024. The company is also exploring patent portfolio licensing and enforcement, with the expected filing of its audited 2023 financial statements and MD&A on SEDAR this month.

Imagine AR Inc. (CSE: IP) (OTCQB: IPNFF) Announces Partnership with Queens Park Rangers for AR Fan Engagement Campaigns

ImagineAR Inc. has closed its non-brokered private placement financing, issuing 36,700,000 Units at a price of $0.021 per Unit for gross proceeds of $770,700. Each Unit consists of one common share and one non-transferable common share purchase warrant. The net proceeds will be used for operations and sales marketing of products. Finder's fees of $6,216 will be paid, and 296,000 broker's warrants will be issued. The securities have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States.