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Urbanimmersive secures $700,000 private-placement financing

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Financially troubled real-estate photography firm Urbanimmersive Inc. announced securing secured a non-brokered private placement of 10,510,500 units at a price of $0.07 per unit for gross proceeds of $735,735. Each unit consists of one common share of the company and one share purchase warrant entitling the holder to purchase an additional common share of the Company at a price of $0.125 per share until October 5, 2026 (3 years). The proceeds are anticipated to be used for sales and marketing-related activities and general purposes. the company said.

“We are delighted to have completed this financing in challenging real estate and stock market conditions, demonstrating the confidence of our shareholders in our strategic growth plan and the potential of Urbanimmersive,” declared Simon Bédard, Chief Financial Officer of Urbanimmersive. “This financing also gives us more flexibility to execute our organic growth plan.”