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.

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