- DGTL Holdings (DGTL) has agreed to acquire all issued and outstanding common shares of Engagement Labs (EL)
- DGTL will conduct a private placement financing of subscription receipts for gross proceeds of a minimum of US$2,000,000 on or before October 1, 2021
- Completion of the merger arrangement is subject to a number of conditions including approval of EL shareholders and the completion of the financing
- The arrangement is expected to close in the fourth quarter of 2021, pending EL shareholder approval
- DGTL Holdings Inc. is a disruptive digital media and advertising technology company
- Engagement Labs is an industry-leading data and analytics firm
- DGTL Holdings Inc. (DGTL) is down 4.41 per cent, trading at C$0.325 per share at 4:15 pm ET
- Engagement Labs Inc. (EL) is down 34.78 per cent, trading at C$0.075 per share at 4:15 pm ET
DGTL Holdings (DGTL) has agreed to acquire all issued and outstanding common shares of Engagement Labs (EL).
Pursuant to the terms of the arrangement, each EL shareholder is expected to receive 0.1136 of a DGTL share.
DGTL has agreed to conduct a private placement financing of subscription receipts for gross proceeds of a minimum of US$2,000,000 on or before October 1, 2021. Immediately prior to the completion of the arrangement, each subscription receipt will be exchanged for one share of DGTL.
Completion of the merger arrangement is subject to a number of conditions including approval of EL shareholders, the completion of the financing and receipt of all necessary regulatory and court approvals.
On closing, DGTL will issue 280,000 shares and 13,750 compensation warrants to Oberon Securities, LLC, which acted as DGTL’s financial advisor.
The board of directors of DGTL, and the board of directors of EL have both unanimously approved the proposed arrangement.
A special meeting of EL shareholders to approve the proposed arrangement will be held and, if approved, the arrangement is expected to close in the fourth quarter of 2021.
DGTL Holdings Inc. is a disruptive digital media and advertising technology company, powered by artificial intelligence.
Engagement Labs is an industry-leading data and analytics firm that provides social intelligence for Fortune 500 brands and companies.
DGTL Holdings Inc. (DGTL) is down 4.41 per cent, trading at C$0.325 per share at 4:15 pm ET.
Engagement Labs Inc. (EL) is down 34.78 per cent, trading at C$0.075 per share at 4:15 pm ET.
