Vancouver (pcJ News Briefs) – Imagination Park Entertainment Inc. (CSE: IP; OTCPK: IPNFF; FSE: GMS1) has engaged Gravitas Securities Inc. for a private placement offering of up to 13,043,478 units at a price of $0.46 per unit for gross proceeds of up to $6,000,000..
Each unit will consist of one common share and one common share purchase warrant entitling the holder thereof to acquire one additional common share at $0.75 for a period of two years following the closing, subject to accelerate expiry.
The offering is expected to close on or about April 30, 2017.
Net proceeds will be used to aid in its ongoing efforts to create and deliver transformational experiences through the production and distribution of intellectual property for film and virtual reality and for general corporate purposes.
“As this is our Company’s first financial raise as Imagination Park, these funds will be instrumental to advancing our business plan with respect to the creation, production, selling and licensing of our sci-fi/fantasy genre co-view content for film and virtual reality. It will also allow us to ramp up our sales force and marketing efforts to hit our revenue projections for the company,” said Gabriel Napora, CEO of Imagination Park.
Imagination Park is a digital content production company, working with talented filmmakers around the world to bring conventional as well as virtual reality content to life.
photo credit: Imagination Park