Imagination Park Technology Announces Closing of First Tranche of Convertible Debenture Gross Proceeds of $560,000

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(TheNewswire)



Vancouver, CANADA – TheNewswire - January  30, 2019 – Imagination Park Technologies Inc. (CSE:IP) (CNSX:IP.CN) (OTC:IPNFF) is pleased to announce that it has raised gross proceeds of $560,000 as the first tranche of its convertible debenture.

The debentures will mature on the date that is twenty four months from the date of issuance (the “Issue Date”) and bear interest at a rate of 12% per annum, payable in common shares at a price equal to the closing price on the day before the interest is due and payable. The Debentures are convertible into units at $0.05 per unit. Each unit consists of one common share and one warrant exercisable at $0.10 for a period of three years from the date the Debentures are issued. The Debentures may be converted by the holder at any time prior to maturity and they will automatically convert to units on 30-days notice if the common shares trade at or above $0.20 for a period of 20 days at any time after four months and one day from the Issued Date.

The Debentures and the units issuable upon the conversion of the Debentures will be subject to a statutory resale restriction for four months and one day from the date of closing.  Imagination Park may pay finder’s fees in accordance with CSE policies.

The Company intends to use the proceeds of the financing for general corporate purposes.

About Imagination Park

Imagination Park Technologies Inc. (CSE: IP) (OTC: IPNFF) has developed ImagineAR.com; an “AR-as-a-Service” platform for desktops that enables businesses of any size to create and implement their own AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds using ImagineARTM. Customers simply point their mobile device at logos, signs, buildings, products, landmarks and more to instantly engage videos, information, advertisements, coupons, 3D holograms and any interactive content all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means that all customer interaction is tracked and measured in real-time. The ImagineAR.com mobile app is available in the IOS and Android mobile app stores.

For more information or to explore working with Imagination Park, please email  [email protected], or visit www.imaginationpark.com.

All trademarks of the property of respective owners.

ON BEHALF OF THE BOARD

Alen Paul Silverrstieen
President & CEO
(818) 850-2490

https://twitter.com/IPtechAR

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We encourage you to do your own due diligence and ask your broker if Imagination Park Entertainment Inc. (cse: IP) is suitable for your particular investment portfolio*.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release. This press release may include ‘forward-looking information’ within the meaning of Canadian securities legislation, concerning the business of the Company. The forward looking information is based on certain key expectations and assumptions made by Imagination Park’s management. Although Imagination Park believes that the expectations and assumptions on which such forward- looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Imagination Park can give no assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and Imagination Park disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

  

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