UI.V - Urbanimmersive Technologies Message Board

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Technology Stocks : UI.V - Urbanimmersive Technologies

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Oct 30 9:30 AM EDT

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From: JRod77	11/19/2015 12:10:03 PM
	of 4

Urbanimmersive arranges $364,000 private placement 2015-11-19 09:57 MT - News Release Mr. Ghislain Lemire reports URBANIMMERSIVE ANNOUNCES A $364,000 FINANCING THROUGH A PRIVATE PLACEMENT OF UNITS Urbanimmersive Inc. intends to complete a private placement to raise gross proceeds of $364,000. Urbanimmersive expects to issue 7.28 million units of the corporation at the price of five cents per unit. Jones, Gable & Company Ltd. is acting as agent in connection with a portion of the private placement Each unit comprises one common share of the corporation and one common share purchase warrant. Each warrant entitles its holder to acquire one additional common share of the corporation at a price of 7.5 cents per common share within the two-year period following the closing of the private placement. The net proceeds of the private placement will be used for sales and marketing initiatives, and to finance the current operations of the corporation. Participation of insiders in the private placement constitutes a related party transaction as defined in Multilateral Instrument 61-101 respecting protection of minority security holders in special transactions and Policy 5.9 of the TSX Venture Exchange. The private placement is exempt from the formal valuation and minority shareholder approval requirements of such regulations. The closing of the private placement is expected to occur on or about Nov. 24, 2015, and is subject to applicable regulatory approvals, including approval of the TSX Venture Exchange. All securities issued in the context of the private placement will be subject to a four-month-and-one-day hold period. We seek Safe Harbor. © 2015 Canjex Publishing Ltd. All rights reserved.

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