ImagineAR arranges $700,000 private placement

Executive Summary

• ImagineAR Inc. has announced a non-brokered private placement financing of up to 23,333,333 units at a price of $0.03 per unit, raising gross proceeds of up to $700,000.
• Each unit consists of one common share and one non-transferable common share purchase warrant, with warrants exercisable at $0.05 per share for 36 months.
• The net proceeds will be utilized for general working capital, operations, and legal and sales/marketing expenses.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Offered: Up to 23,333,333 units.
• Price Per Unit: $0.03.
• Gross Proceeds: Up to $700,000.
• Warrant Terms: Each unit includes one non-transferable common share purchase warrant.
• Warrant Exercise Price: $0.05 per share.
• Warrant Expiration: 36 months from the closing of the offering.
• Legends/Restrictions: Securities are legended with a hold period of four months and one day from the date of issuance in accordance with Canadian securities laws.
• Regulatory Conditions: Completion is subject to necessary regulatory approvals, including approval from the Canadian Securities Exchange.
• Use of Proceeds: General working capital, operations, legal fees, and sales/marketing of products.