Urbanimmersive Inc. announced a a non-brokered private placement of 10,510,500 units at a price of CAD 0.07 per unit for gross proceeds of CAD 735,735 on October 5, 2023. 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 CAD 0.125 per share until October 5, 2026. The closing of the transaction is subject to the approval of the TSX Venture Exchange and other customary conditions.

All securities issued in the private placement are subject to a four-month and a day hold period until February 6, 2024. The company has paid a referral fee of CAD 39,319 and issued 537,200 warrants to finders to purchase up to 537,200 common shares of the company at a price of CAD 0.125 per share at any time until October 5, 2026.