Vancouver, CANADA– February 26, 2020 – Imagination Park Technologies
Inc. (CSE: IP) (OTC: IPNFF) is pleased to announce that it has closed its previously
announced convertible debenture for an oversubscribed total amount of $1,500,000.
The Company intends to use the proceeds of the financing for marketing, sales, and
general corporate purposes.
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-day 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.
Mike Tunnicliffe Appointed to the Board of Directors
Mike Tunnicliffe, who recently joined the Board of Advisors, has now been appointed to
the Board of Directors of Imagination Park Technologies Inc.. Mr. Tunnicliffe previously
served as EVP, Head of Universal Music Group and Brands-USA. He led Universal
Music Group and Brands (UMGB), a music strategy, partnerships and activation division
that works closely with all UMG labels, artists and their managements to deliver
transformational music-based marketing solutions for brands as well as create new
marketing and revenue opportunities for UMG’s artists and labels. Mike, with his team,
worked with many Marquee brands including: American Express, Marriott, American
Airlines, Honda, Citi, Mars/M&M’s and brokered partnerships with multiple high profile
artists including: The Weeknd, Imagine Dragons, X-Ambassadors, Shawn Mendez,
Carly Rae Jepson, Keith Urban & Nick Jonas.
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 ImagineAR TM . 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 info@imaginationpark.com, or visit www.imaginationpark.com.
All trademarks of the property of respective owners.
ON BEHALF OF THE BOARD
Alen Paul Silverrstieen
President & CEO
