By Sheri Kasprzak
New York, March 10 - Immersive Media Corp. has completed its previously announced private placement for C$3.6 million.
The company sold 3 million units at C$1.20 each.
The units consist of one share and one half-share warrant. Each whole warrant is exercisable at C$1.50 each for 16 months.
Bolder Investment Partners Ltd. is the placement agent.
The deal priced Feb. 28 as a C$3 million offering of 2.5 million units
Proceeds will be used for the expansion of the company's sales and marketing efforts, its support functions and research and development initiatives.
Calgary, Alta.-based Immersive is a digital video imaging company focused on omni-directional video products.
| Issuer: | Immersive Media Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$3.6 million
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| Units: | 3 million
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| Price: | C$1.20
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 16 months
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| Warrant strike price: | C$1.50
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| Placement agent: | Bolder Investment Partners Ltd.
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| Pricing date: | Feb. 28
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| Settlement date: | March 10
|
| Stock symbol: | TSX Venture: IMC
|
| Stock price: | C$1.26 at close Feb. 28
|
| Stock price: | C$1.34 at close March 10
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