- Fantasy 360 (VRAR) has announced a C$3M credit facility with Westdale Construction
- It will issue Westdale 2M common share purchase warrants
- The loan carries an interest rate of 12-per-cent per year
- The company intends to use the proceeds to satisfy demand, build an inventory of critical parts and expand its production capacity
- Fantasy 360 Technologies, d.b.a. Immersive Tech, is building the physical metaverse with a focus on social entertainment, virtual reality and augmented reality attractions
- Fantasy 360 (VRAR) is unchanged trading at $0.29 per share
Fantasy 360 (VRAR) has announced a C$3M credit facility with Westdale Construction.
It will issue Westdale 2M common share purchase warrants.
Each warrant is exercisable for one Fantasy 360 common share priced at $0.52 for a period of four years.
The loan carries an interest rate of 12-per-cent per year.
The company intends to use the proceeds to satisfy demand, build an inventory of critical parts and expand its production capacity.
The original maturity date is 180 days from the advance date, being June 17, 2022.
Fantasy 360 may extend the maturity date for up to an additional 180 days, at which point it will enter into an agreement granting Westdale first priority security interest on all of its property, assets and undertaking.
“We are very excited to be able to accelerate our mission and continue building the most immersive metaverse experience in the world,” stated Tim Bieber, CEO of Fantasy 360 Technologies. “We thank Westdale for their confidence in us and their belief in that mission and we’re looking forward to working with them as a strategic partner.”
Westdale Properties has owned, managed and developed real estate across North America for over 60 years.
Fantasy 360 Technologies, d.b.a. Immersive Tech, is building the physical metaverse with a focus on social entertainment, virtual reality and augmented reality attractions.
Fantasy 360 (VRAR) is unchanged trading at $0.29 per share as of 9:33 am EST.
