ImagineAR Closes Second Tranche of Convertible Note Financing
ImagineAR (CSE: IP) (OTCQB: IPNFF) has closed the second tranche of a convertible note financing, raising $385,000. This brings the total amount received from both tranches to $510,000. The funds will support the company's major initiatives: Location-Based Entertainment, AI integration with AR, and Patent Enforcement & Licensing.
The convertible notes can be converted into Units at $0.05 per Unit, with each Unit comprising one common share and one warrant. The warrant is exercisable into one common share at $0.07 for three years from the issue date. No finder's fees or commissions will be paid. Securities issued will have a four-month statutory hold period plus one day from issuance.
ImagineAR (CSE: IP) (OTCQB: IPNFF) ha concluso la seconda tranche di un finanziamento tramite note convertibili, raccogliendo $385,000. Questo porta l'importo totale ricevuto da entrambe le tranche a $510,000. I fondi sosterranno le principali iniziative dell'azienda: Intrattenimento basato sulla posizione, integrazione dell'AI con la realtà aumentata, e applicazione e concessione di licenze di brevetti.
Le note convertibili possono essere convertite in Unità a $0.05 per Unità, con ogni Unità costituita da una azione ordinaria e un warrant. Il warrant è esercitabile per una azione ordinaria a $0.07 per tre anni dalla data di emissione. Non verranno pagate commissioni o compensi ai ricercatori. I titoli emessi avranno un periodo di blocco legale di quattro mesi più un giorno dall'emissione.
ImagineAR (CSE: IP) (OTCQB: IPNFF) ha cerrado la segunda tranche de un financiamiento mediante notas convertibles, recaudando $385,000. Esto eleva la cantidad total recibida de ambas tranches a $510,000. Los fondos apoyarán las principales iniciativas de la compañía: Entretenimiento basado en la ubicación, integración de IA con AR y aplicación y concesión de licencias de patentes.
Las notas convertibles pueden convertirse en Unidades a $0.05 por Unidad, donde cada Unidad consta de una acción ordinaria y un warrant. El warrant es ejercitable por una acción ordinaria a $0.07 durante tres años a partir de la fecha de emisión. No se pagarán comisiones o honorarios por encontrar. Los valores emitidos tendrán un período de retención legal de cuatro meses más un día desde la emisión.
ImagineAR (CSE: IP) (OTCQB: IPNFF)가 전환사채 자금 조달의 두 번째 분할을 마감하고 $385,000을 모집했습니다. 이에 따라 두 분할에서 총 $510,000을 모집한 것입니다. 이번 자금은 회사의 주요 사업인 위치 기반 엔터테인먼트, AR과의 AI 통합, 및 특허 집행 및 라이센스를 지원하는 데 사용될 것입니다.
전환사채는 단위당 $0.05에 단위로 전환할 수 있으며, 각 단위는 하나의 보통주와 하나의 워런트로 구성됩니다. 이 워런트는 발행일로부터 3년 동안 $0.07에 보통주로 행사할 수 있습니다. 중개 수수료나 커미션은 지급되지 않습니다. 발행된 증권은 4개월의 법적 보유 기간과 발행일부터 하루가 더 추가됩니다.
ImagineAR (CSE: IP) (OTCQB: IPNFF) a clôturé la deuxième tranche d'un financement par note convertible, levant $385,000. Cela porte le montant total reçu des deux tranches à $510,000. Les fonds soutiendront les principales initiatives de l'entreprise : Divertissement basé sur la localisation, intégration de l'IA avec la RA et application des brevets & licences.
Les notes convertibles peuvent être converties en Unités à $0.05 par Unité, chaque Unité comprenant une action ordinaire et un warrant. Le warrant est exercé sur une action ordinaire à $0.07 pendant trois ans à compter de la date d'émission. Aucune commission ou frais d'apporteur d'affaires ne sera payé. Les titres émis auront une période de blocage statutaire de quatre mois plus un jour à partir de l'émission.
ImagineAR (CSE: IP) (OTCQB: IPNFF) hat die zweite Tranche einer Wandelanleihe-Finanzierung abgeschlossen und $385,000 gesammelt. Damit erhöht sich der Gesamtertrag aus beiden Tranchen auf $510,000. Die Mittel werden die wichtigsten Initiativen des Unternehmens unterstützen: Standortbasiertes Entertainment, KI-Integration mit AR und Patentdurchsetzung & Lizenzierung.
Die Wandelanleihen können in Einheiten zu $0.05 pro Einheit umgewandelt werden, wobei jede Einheit aus einer Stammaktie und einem Warrant besteht. Der Warrant kann innerhalb von drei Jahren ab dem Ausgabetag für $0.07 in eine Stammaktie ausgeübt werden. Es werden keine Vermittlungsgebühren oder Provisionen gezahlt. Die ausgegebenen Wertpapiere haben eine viermonatige gesetzliche Haltefrist plus einen Tag ab dem Ausgabedatum.
- Successful closure of second tranche financing, raising $385,000
- Total financing amount reaches $510,000 from both tranches
- Funds to support key initiatives: Location-Based Entertainment, AI integration with AR, and Patent Enforcement & Licensing
- Convertible notes offer potential for equity conversion at $0.05 per Unit
- Warrants provide additional investment opportunity at $0.07 per share for three years
- Potential dilution of existing shareholders upon conversion of notes and exercise of warrants
- Low conversion price of $0.05 per Unit may indicate current market valuation challenges
Vancouver, British Columbia--(Newsfile Corp. - October 22, 2024) - ImagineAR. (CSE: IP) (OTCQB: IPNFF) (the "Company") is pleased to announce that further to its news releases dated August 30, 2024 and September 10, 2024, it has closed the second tranche of a convertible note financing in the amount of
The convertible notes and interest are convertible at any time by the holder or upon the automatic conversion into units (the "Units") at
No finders fees or commissions will be paid.
All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. These securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.
About ImagineAR
Imagine AR Inc. (CSE: IP) (OTCQB: 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.
For more information or to explore working with ImagineAR, please email: info@imaginear.com or visit www.imagineAR.com.
All trademarks of the property of respective owners.
ON BEHALF OF THE BOARD
Alen Paul Silverrstieen
President & CEO
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward- looking statements contained herein may include, but is not limited to, information concerning the ability of the Company to generate revenues, roll out new programs and to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227487
FAQ
How much did ImagineAR (IPNFF) raise in the second tranche of convertible note financing?
What is the total amount raised by ImagineAR (IPNFF) in both tranches of the convertible note financing?
What are the major initiatives that ImagineAR (IPNFF) will support with the raised funds?
What is the conversion price for the convertible notes issued by ImagineAR (IPNFF)?
What is the exercise price and duration of the warrants included in the Units for ImagineAR (IPNFF)?
