DigiMax Global Announces $5.0 Million Private Placement

DigiMax Global Solutions (CSE: DIGI) last night announced a non-brokered private placement amid strong consumer demand. The company will look to raise gross proceeds of $5.0 million under the offering.

Under the terms of the offering, units of the company are to be priced at $0.35 each, with each unit containing one common share and one common share purchase warrant. Each warrant is valid for a period of two years from the date of issuance, and contains an exercise price of $0.45 per share.

Proceeds from the offering are to be used to further fund research and development, working capital, as well as marketing costs.

The financing is anticipated to close by February 19, 2021.

DigiMax Global last traded at $0.44 on the CSE.

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