ImagineAR an augmented Reality company that enables sports teams, brands and businesses to instantly create their own mobile phone immersive AR campaigns, is pleased to announce a non-brokered private placement financing (the “Offering”) of up to 13,030,303 Units (the “Units), at a price of $.033 per Unit for gross proceeds of up to $430,000.
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Each Unit will be 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 proposed private placement to enhance its SDK technology, sales, and marketing support, and develop AI integration proof of concept immersive AR activations.
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The securities being issued and sold in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any states’ securities laws and may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Any offering of the Resale Shares under the resale registration statement will only be by means of a prospectus.
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