Vancouver, B.C. – October 17, 2018 – Imagination Park Entertainment Inc. (CSE: IP) (OTC: IPNFF) (“Imagination Park” or “Company”) has amended the terms of 4,758,571 common share purchase warrants that were issued by way of private placement (the “PP Warrants”) and 2,500,000 common share purchase warrants that were issued by way of bonus on a loan agreement (the “Loan Warrants”).
The PP Warrants affected are the 4,758,571 transferable common share purchase warrants issued on May 16, 2018 at an exercise price of $0.50 and an expiry date of May 16, 2021. The Company received approval from all warrant holders to amend the exercise price to $0.25. Pursuant to the policies of the Canadian Securities Exchange, the amended PP Warrants will be subject to an accelerated exercise provision:
If, for any 10 consecutive trading days, the closing price of the listed shares exceeds the amended exercise price by the applicable private placement discount, the terms of the warrants will also be amended to 30 days.
The Loan Warrants affected are the 2,500,000 non-transferable common share purchase warrants issued on November 14, 2017 at an exercise price of $0.32 and an expiry date of November 14, 2019. The Company has extended the expiry date on the Loan Warrants an additional year to expire on November 14, 2020.
About Imagination Park
Imagination Park creates engaging and interactive holographic content delivered by its cloud-based augmented reality enterprise platform. The Company provides augmented reality products for mobile phones and wearable headsets, as well as rapid deployment of AR solutions, without the need for developers, while integrating artificial intelligence (AI) and Blockchain.
ON BEHALF OF THE BOARD,
Alen Paul Silverrstieen
President & CEO