DigiMax Sees $5.0 Million Private Placement Fully Subscribed Within Hours Of Announcement

DigiMax Global Solutions (CSE: DIGI) this morning issued a news release related to the addition of an advisory board for its subsidiary, DataNavee. Most intriguing in the release however, is the detail that the private placement announced just last night for gross proceeds of $5.0 million is already fully subscribed.

The announcement of the fully subscribed private placement comes just hours after firm originally announced the placement, indicating strong investor demand. The financing will see the company raise a total of $5.0 million at a price of $0.35 per unit.

Also announced this morning is the news that the company is targeting the week of February 22 for the release of its Crypto Price Trend App to the general public. The release reportedly follows a very successful private trial, with users soon able to sign up for a 7 day free trial. The app is currently complete, with subscriber and banking interfaces currently being completed.

In regards to the advisory board, the company has assembled a board of highly experienced individuals from the public safety sector to assist DataNavee in developing its PPI applications.

The board is to consist of Andrew Ellis, former Assistant Director of Operations with the Canadian Security Intelligence Service, Eric Joliffe, a former chief of police with four decades of experience, Matt Torigian, formerly Ontario’s Deputy Solicitor General, and Dr Arija Brize, a postdoctoral researcher at the Factor Inwentash Faculty of Social Work, University of Toronto.

DigiMax Global Solutions last traded at $0.395 on the CSE.


FULL DISCLOSURE: DigiMax Global Solutions is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover DigiMax Global Solutions on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Canada Kills The Anonymity Case For Crypto

In what may be the largest blow to the use case for cryptocurrencies globally, it...

Wednesday, February 23, 2022, 05:02:11 PM

Voyager Digital To Raise $7.0 Million Via Special Warrants

Voyager Digital (CSE: VYGR) this morning announced a $7.0 million private placement that is to...

Friday, November 27, 2020, 08:03:19 AM

Are Banks Quietly Closing Doors on the Crypto World?

In recent years, financial institutions have come under scrutiny for their alleged role in the...

Friday, November 29, 2024, 02:03:00 PM

DigiMax Closes $5.1 Million Financing, Sees Strong Subscriber Growth For Crypto App

On Friday Evening, DigiMax Global Solutions (CSE: DIGI) announced the closing of its final tranche...

Monday, March 1, 2021, 08:48:56 AM

PayPal Will Now Allow Customers to Make Transactions Using Cryptocurreny

As the world continues down the digitization path, especially amid pressure stemming from the coronavirus...

Wednesday, October 21, 2020, 04:44:58 PM