Imagination Park $IP Completes Original VR Productions

Virtual Reality IP.jpeg(CSE: IP) (OTCQB: IPNFF)

Imagination Park Entertainment Inc. is pleased to announce the completion and upcoming release of three original virtual reality productions as well as a non-brokered private placement financing.

  • “Invasion”: Planned to be released in 2017: when an alien ship mysteriously devours everything in its path, one woman (played by model Andrea Katic) fights back. This creation, featuring cutting-edge visual effects, is produced by Gabriel Napora, Yas Taalat and Rocky Mudaliar as well as directed by Chris Le, the director of Juarez 2045.
  • “Singularity”: Planned for release in 2017: left for dead after a hit-and-run, a young teacher undergoes an experimental procedure to install an A.I. chip in her brain. After recovering, she uses her superhuman powers to stop a hacker from exterminating humanity with our own mobile devices. Produced by Gabriel Napora and Yas Taalat, directed by Matt Nefdt.
  • “Muti”: Planned to be released in 2017: Set in South Africa in the not too distant future, detective Tobi Nala is investigating a series of gruesome murders which are believed to have been linked to witchcraft. Nala is tipped off a suspect is selling human body parts to a traditional healer. She tries to intercept the transaction and chases the subject through a train station leading her to an underground tunnel. The suspect escapes but she is drawn in by sounds of people chanting, as she approaches she witnesses a ritual human sacrifice being offered to an alien being. Muti is also produced by Gabriel Napora and Yas Taalat, directed by Matt Nefdt.

 

The Company also announces the closing of a non-brokered private placement financing  for gross proceeds of C$192,000 through the issuance of 800,000 units at a price of C$0.24 per Unit. Each Unit comprised of one common share and one-half of one share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share for a period of up to 24-months from the date of issue at a price of C$0.32, subject to accelerated expiry in certain circumstances.

In addition, the Company has paid an arm’s length finder a fee of C$4,800 and issued 60,000 finder’s units with each Finders Unit having the same terms as the Units.

The net proceeds of the Private 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.