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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (27421)	3/20/2017 11:33:33 AM
From: Goose94	Read Replies (1) \| Respond to of 203658

Imagination Park Entertainment (IP-Cse) March 20, '17 has entered into an engagement letter with Gravitas Securities Inc. in respect of a brokered private placement offering of up to 13,043,478 units of the company at a price of 46 cents per unit for aggregate gross proceeds of up to $6-million. The net proceeds of the Offering will be used to aid in the Company's 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. Each Unit will consist of one common share of the Company (each, a "Common Share") and one common share purchase warrant of the Company (each, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share (each, a "Warrant Share") at an exercise price of $0.75 for a period of two years following the closing date of the Offering (the "Closing Date"). The Warrants will be subject to an acceleration period (the "Warrant Acceleration Period"). The Warrant Acceleration Period shall be trigged if the Common Shares of the Company, traded on the Canadian Securities Exchange (the "CSE"), trade at a volume weighted average price exceeding $0.90 per Common Share for a period of 20 consecutive trading days. The Company has agreed to grant the Agent an over-allotment option (the "Over-Allotment Option") to purchase up to an additional 1,956,522 Units at the Offering Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the Closing Date. If the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the Offering will be $ 6,900,000 . For its services, the Agent will receive a cash commission and compensation warrants ("Broker Warrants"). Each Broker Warrant will entitle the holder to acquire one Unit at an exercise price equal to the Offering Price for a period of two years following the Closing Date . The Offering is expected to close on or about April 30, 2017 or such other date as the Company and the Agent may agree, and is subject to certain conditions, including completion of formal documentation and receipt of regulatory approval, including the approval of the CSE. Pursuant to Canadian securities laws, any securities issued in the Offering will be subject to a hold period of four months plus one day from the date of issuance. Gabriel Napora, CEO of Imagination Park, stated in respect of the Offering: " 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." Imagination Park is an emerging digital content production company, working with talented filmmakers around the world to bring conventional as well as virtual reality content to life. ON BEHALF OF THE BOARD, Colin Wiebe Chairman & Director imaginationpark.com