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TORONTO, ON / ACCESSWIRE / March 14, 2021 / DigiCrypts Blockchain Solutions Inc. o/a DIGIMAX GLOBAL SOLUTIONS (the “Company” or “DigiMax”) (CSE:DIGI) is pleased to announce that the Company has entered into securities purchase agreements with certain institutional investors, for gross proceeds of approximately CAD$13.2 million in a private placement of its equity securities, comprised of 37,793,715 common shares of the Company (“Shares“) and warrants to purchase up to 37,793,715 common shares (“Warrants“), at a purchase price of CAD$0.35 per Share and associated Warrant. The Warrants have an exercise price of CAD$0.365 per Share and exercise period of three and one-half years from the issuance date.
The net proceeds of the private placement will be used by the Company for working capital and general corporate purposes and may be used to fund strategic partnerships that may include an acquisition of all or part of existing companies operating in similar artificial intelligence, or blockchain/crypto spaces. However, no agreements have been signed, nor any terms agreed on, in respect of any such transactions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the private placement.
The private placement is expected to close on or about March 17, 2021, subject to satisfaction of customary closing conditions and stock exchange approvals.
No securities were offered for sale or sold to Canadian residents.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in Canada in connection with the private placement.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release shall not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.
DigiMax is a company formed to utilize advanced financial technologies, together with predictive analytics derived from artificial intelligence-based machine learning, to provide customers with high value products and services in multiple market sectors.
The recent acquisitions of 100% of the DataNavee shares, and Darwin Ecosystem assets have given DigiMax a globally competitive artificial intelligence platform from which to offer these products and services.
DigiMax currently has two such products available at present: its Projected Personality Interpreter (PPI) offered to large organizations to assist with assessing personality traits of existing and potential employees, and CryptoDivine.ai that is a subscription-based information tool that assists investors in determining when price trend changes are likely to occur for Bitcoin and Ethereum.
DigiMax expects to increase the number of valuable product offerings made available to small businesses and individuals in the coming months.
President & CEO
Cautionary Note Regarding Forward-looking Statements
This press release contains “forward-looking statements or information”. Forward-looking statements can be identified by words such as: anticipate, intend, plan, goal, seek, believe, project, estimate, expect, strategy, future, likely, may, should, will and similar references to future periods. Examples of forward-looking statements in this press release include, among others, statements we make regarding the Company closing the private placement, the timing of the closing of the private placement, the use of proceeds from the private placement, the receipt of any required regulatory and stock exchange approvals, and information about future plans, expectations and objectives of the Company.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. The Company may not actually achieve its plans, projections, or expectations. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning the use of net proceeds of the private placement. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the risk that the conditions to closing of the private placement are not satisfied, the adequacy of our cash flow and earnings, the availability of future financing and/or credit, and other conditions which may affect our ability to expand the App Platform described herein, the level of demand and financial performance of the cryptocurrency industry, developments and changes in laws and regulations, including increased regulation of the cryptocurrency industry through legislative action and revised rules and standards applied by the Canadian Securities Administrators, Ontario Securities Commission, and/or other similar regulatory bodies in other jurisdictions, disruptions to our technology network including computer systems, software and cloud data, or other disruptions of our operating systems, structures or equipment, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, consumer sentiment towards the Company’s products and services, failure of counterparties to perform their contractual obligations, government regulations, competition, loss of key employees and consultants, and general economic, market or business conditions, the impact of technology changes on the products and industry, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE: DigiMax Global Solutions
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