Vancouver, CANADA / TheNewswire / March 19, 2018 - In a continued effort to improve its visibility in North America, emerging leader in digital content production Imagination Park Entertainment Inc. (CSE: IP) (OTC: IPNFF) (FRA: GMS1) has retained the services of Hill+Knowlton Strategies (H+K).
The communications program, led by H+K Montreal, and supported by the agency's Toronto, New York and Los Angeles teams, aims to increase awareness of Imagination Park, the leader in the new technology revolution that is augmented reality (A/R), mixed reality (M/R), artificial intelligence (AI), machine learning and computer vision.
''The virtual, augmented and mixed reality space is considered one of the biggest technological revolutions since the Internet,'' says Imagination Park CEO, Alen Paul Silverrstieen. Mr. Silverrstieen continued, "As a pioneer and leader in this emerging sector, Imagination Park called upon the top public relations agency. With its combined business, financial and technology expertise, we feel that Hill+Knowlton Strategies is best equipped to tell our story of innovation among business and financial audiences.''
The Company further announces it has closed a non-brokered private placement financing ("Placement") for aggregate gross proceeds of C$972,949.60. The Company has issued 1,389,928 units ("Units") at a price of C$0.70 per Unit. Each Unit comprised of one common share and one non-transferable common share purchase warrant ("Warrant"), with each Warrant entitling the holder to purchase one additional common share of the Company at a price of C$0.90 for a period of up to twenty-four months from the date of issue, subject to accelerated expiry in certain circumstances. In addition, the Company has issued 20,529 common shares as an arm's length finder's fee in connection with the Placement. The net proceeds of the Placement 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, mixed reality and augmented reality technology as well as for general corporate purposes. All securities issued under the Private Placement are subject to a four-month and one-day hold period expiring on July 20, 2018.
About Imagination Park
An emerging leader in digital content production, Imagination Park creates and delivers transformational experiences through the production and distribution of intellectual property for film, virtual reality, augmented reality & mixed reality in North America and China.
Through its joint venture company XenoHolographic, it creates novel holographic content and provides augmented reality products for both phones and wearable headsets, as well as rapid deployment of AR solutions, without the need for developers, while integrating artificial intelligence (AI) and Blockchain.
About Hill+Knowlton Strategies Canada
With nine offices across the country, Hill+Knowlton Strategies Canada is a leader in both public relations and government relations. Headquartered in Toronto, the company is the No. 1-rated strategic communications firm in the country. Its experts specialize in corporate communications, public affairs, marketing communications, crisis, energy, technology, health care, social and digital communications, financial communications, and transactions. The only communications firm to have earned the Order of Excellence from Excellence Canada, it has been recognized as one of the best workplaces in Canada for eleven consecutive years. Its parent company, Hill+Knowlton Strategies Inc., has 85 offices in 47 countries as well as an extensive associate network; and it is a member of WPP, one of the world's largest communications services groups.
Alen Paul Silverrstieen
President & CEO
Hill + Knowlton Strategies
ON BEHALF OF THE BOARD,
Alen Paul Silverrstieen
President & CEO
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.