ImagineAR Inc (CSE:IP) (OTCMKTS:IPNFF), an augmented reality company that enables sports teams, businesses, retailers and organizations to instantly create their own AR mobile campaigns, said it has received more than $1.5 million from the exercise of warrants.
The Vancouver-based company pointed out that that the proceeds will provide the financial resources necessary to fund growth and operations for a minimum of 12 months, assuming it were not able to generate any further revenue from business operations.
However, ImagineAR said it expects meaningful revenue from its current and anticipated sales pipeline over the next 12 months, and it also expects to receive additional proceeds from further warrant exercises.
READ: ImagineAR teams up with Engage Nation to bring augmented reality content to an increasingly remote casino industry
The company so far in 2020 has raised total financing proceeds of about $3 million.
As a result, ImagineAR said it is confident it now has the war chest necessary to pursue all anticipated business opportunities as the demand for its AR solutions continues to grow on a weekly basis.
“Today’s announcement significantly bolsters our financial strength and resources necessary to execute our business plan without any further fundraising required at this time,” ImagineAR CEO Alen Paul Silverrstieen said in a statement.
“Taking into account the $1.5 million raised by way of oversubscribed convertible debenture on February 26, the continued support and confidence of our valued shareholders is deeply appreciated as we aggressively pursue our growth strategy to become the leading augmented reality platform in 2020 and beyond,” he added.
Contact the author: [email protected]
Follow him on Twitter @PatrickMGraham
Story by ProactiveInvestors
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com
Order by Phone at 888-809-8385 or online at https://www.herbanomic.com
Get our Free Ebook, "Suppressed Health Secrets" with Natural Cures THEY don't want you to know!
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
pathogens and gives you more
energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Organic Hemp Extract (CBD) - Full Spectrum high CBD (3300mg) hemp extract eases stiff joints, relieves stress and more!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video)
Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.