IMRIS Inc. (NASDAQ: IMRS; TSX: IM) ("IMRIS" or the "Company") today announced it has closed the private placement offering of 10,563,380 units at an offering price of US$0.284 per unit.
Each unit (the "Units") consists of one common share of the Company (the "Common Shares") and one and a quarter common share purchase warrants (the "Warrants"). Each whole Warrant is exercisable into one Common Share during the period starting on the day that is four months from the date of issue and ending on the day that is five and a half years from the date of issue at an exercise price per common share of US$0.3692. The gross proceeds to IMRIS in connection with the offering are US$3.0 million.