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.
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The financing is anticipated to close by February 19, 2021.
DigiMax Global last traded at $0.44 on the CSE.
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