- DGTL Holdings (DGTL) has closed the first tranche of its previously announced private placement offering of subscription receipts for aggregate gross proceeds of $1,030,000
- Upon the closing of DGTL’s acquistion of Engagement Labs Inc., the subscription receipts will be converted into convertible debentures and the proceeds will be released
- The convertible debentures will bear interest at an annual rate of seven per cent
- DGTL Holdings Inc. is a disruptive digital media and advertising technology company
- DGTL Holdings Inc. (DGTL) opened trading at C$0.195 per share
DGTL Holdings (DGTL) has closed the first tranche of its previously announced private placement offering of subscription receipts.
Under the first tranche, the company issued 1,030 subscription receipts at an offering price of $1,000 for aggregate gross proceeds of $1,030,000.
The completion of the first tranche satisfied a key condition to closing in the arrangement agreement between DGTL and Engagement Labs Inc.
The gross proceeds of the first tranche will be held by Garfinkle Biderman LLP pursuant to the terms of a subscription receipt agreement entered into between DGTL and Garfinkle. Upon the satisfaction of certain escrow release conditions, each subscription receipt will automatically be converted into a $1,000 convertible debenture and the subscription receipt proceeds will be released. The escrow release conditions include the completion of the DGTL’s acquisition of EL.
The convertible debentures will bear interest at an annual rate of seven per cent payable in arrears in equal installments semi-annually. The debentures will mature two years following the satisfaction of the escrow release conditions.
DGTL will pay finder’s fees of $49,000 in cash and 81,659 finder’s warrants upon satisfaction of the escrow release conditions. Each finder’s warrant entitles the holder to purchase one common share of DGTL at a price of $0.40for a period of 36 months following the date on which the escrow release conditions are satisfied.
DGTL Holdings Inc. is a disruptive digital media and advertising technology company, powered by artificial intelligence.
DGTL Holdings Inc. (DGTL) opened trading at C$0.195 per share.