ImagineAR Inc (IP)

[Sam Dan]

Things looking promising

Imagination Park Increases Size of Private Placement

Imagination Park Entertainment Inc. has increased the size of the previously announced non-brokered private placement. The company anticipates exceeding the previous offering amount due to an increase in demand for the private placement. The company recently closed the first tranche of the private placement for gross proceeds of $352,500.

The private placement will consist of units at a price of five cents per unit. Each unit shall consist of one common share and one common share purchase warrant exercisable at a price of 10 cents for a period of one year from the date of issuance. Finders' fees may be payable in relation to the private placement.

The proceeds of the private placement will be used for the company's film portfolio incubation, packaging and development activities, corporate development, and general working capital purposes.

Gabriel Napora, chief executive officer of the company, commented, "We appreciate the support from our growing community of investors and look forward to closing the final tranche of this private placement very soon.