ImagineAR (TSE:IP) has released an update.
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ImagineAR has initiated a convertible note financing plan to raise $1.1 million, which will be allocated in three tranches to enhance its AR services and support strategic projects such as Location-Based Entertainment and AI integration. The notes, with a 12% annual interest rate, are set to automatically convert into common shares under specific conditions. This financial move aims to bolster ImagineAR’s offerings in creating accessible augmented reality campaigns for a variety of organizations.
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