DMG Blockchain To Raise C$70.0 Million Via US Institutions
DMG Blockchain (TSXV: DMGI) this morning announced that it will be conducting a large financing. The firm will look to raise C$70.0 million via a private placement that is to be conducted with US based institutional investors only.
The financing will see the company issue 23.3 million units of the company, with each unit containing one common share and one half warrant at a price of $3.00 per unit. Each warrant is valid for three years following the date of issuance at an exercise price of $3.55 per common share.
Proceeds from the financing are to be used for infrastructure expansion and equipment purchases, investment in digital currencies, potential acquisitions and partnerships, software development, the expansion of marketing, and working capital and general corporate purposes.
The financing is currently slated to close March 5, 2021.
DMG Blockchain last traded at $3.52 on the TSX Venture.
Information for this analysis was found via Sedar and DMG Blockchain Solutions. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
