Back to Newsroom
Back to Newsroom

DigiMax in Advanced Negotiations to Acquire Digital App Company

Thursday, 11 June 2020 02:05 PM

DigiMax Global Solutions

UP TO $1 MILLION TO BE RAISED IN ADVANCE OF ACQUISITION

TORONTO, ON / ACCESSWIRE / June 11, 2020 / DIGIMAX GLOBAL SOLUTIONS (CSE:DIGI) (the "Company" or "DigiMax") is pleased to announced that it has advanced discussion and negotiation with a digital and in-person services company (referred to as "ServiceCo" herein). Upon completing the transaction, ServiceCo would become a wholly owned subsidiary of DigiMax.

Prior to completing the acquisition, DigiMax has agreed to conduct a capital raise of up to $1 million by issuing Units consisting of one common share at 5 cents per share and ½ warrant exercisable at 7.5 cents per share for 24 months following closing of the funding.

ServiceCo is based in Toronto and intends to quickly expand throughout North America. Like DigiMax, ServiceCo assists other companies to grow their businesses but does not engage in any form of capital raising on behalf of these companies and as a result, does not conduct any form of business that requires registration with securities regulators. Also like DigiMax, ServiceCo has developed digital apps as a conduit for providing these services worldwide. The first of these applications involves offering a high-end delivery platform for exclusive goods and services with specific focus in the food area. This would be a bespoke version of what is offered by GrubHub and Just Eat Takeaway that recently announced a $7.3 billion merger. The principals behind ServiceCo have a long and successful track record of bringing digital solutions to the market place in industries that include medical, home shopping and food.

About DigiMax

DigiMax is based in Toronto and is the first company in the Digital Security space to be both publicly listed (listed on the Canadian Securities Exchange-symbol: DIGI) and own a registered Dealer. Canada, DigiMax Capital Corp is an 'Exempt Market Dealer registered in Ontario.

The corporate group presently consults to operating businesses and helps them raise capital through the issuance of traditional securities.

The Company has a highly qualified management team with extensive experience in global financial and capital markets, combined with a rapidly expanding global presence through collaborative partnerships in the USA, Hong Kong, Indonesia, Malaysia, England, Singapore, Korea and Malta.

Contacts DigiMax:

Chris Carl
President & CEO
416-312-9698
[email protected]

Edward Murphy
Chairman
416-720-0456
[email protected]

Cautionary Note Regarding Forward-looking Statements

NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

This press release contains "forward-looking statements". 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 include, among others, statements we make regarding changing the Company's name.

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. 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: shareholders approving the change of name to DigiMax, 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.

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

Topic:
Company Update
Back to newsroom
Back to Newsroom
Share by: