iLOOKABOUT closes second tranche of placement

LONDON – iLOOKABOUT Corp. raises gross proceeds of $1,043,200 on the sale of 2,608,000 share units in the second and final tranche of a private placement handled by Toronto-based MGI Securities Inc. Combined with the initial placement of iLOOKABOUT-cropped.jpg2,888,750 units for $1,155,500, the sale neared the goal of up to 6,250,000 units – each consisting of one common share and a warrant to purchase another half share – that the visual data intelligence company set when it announced the funding exercise in May. The company says it will use the realized net proceeds to “pursue growth opportunities which may include the capture of additional streetscape image-data, increased sales and marketing efforts, expansion of capital infrastructure and for general corporate and working capital purposes.” iLOOKABOUT provides geo-spatial imaging software and services to businesses and governments that require accurate visual data of buildings and city infrastructure.

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