DigiCrypts Announces Change of Business Name to DigiMax Global Solutions and Closing of Convertible Debenture Private Placement

DigiCrypts Blockchain Solutions Inc. (the “Company” or “DigiMax Global”) is pleased to announce an update pertaining to the business developments of the Company.

HIGHLIGHTS

• ICO Max Capital Corp., a subsidiary of DigiCrypts Blockchain Solutions Inc. announces change of name to DigiMax Capital Corp.
• DigiCrypts Blockchain Solutions Inc. will commence doing business as “DigiMax Global Solutions Inc.”
• The name of the downloadable App Platform will be changed from “ICO Max” to “DigiMax”
• DigiMax Global announces completion of a $484,500 Convertible Debenture Private Placement
• DigiMax Global announces process initiated for listing on the Canadian Securities Exchange

Name Change

DigiCrypts Blockchain Solutions Inc. will begin conducting business as “DigiMax Global Solutions” immediately followed by a legal name change in the near future. In addition, ICO Max Capital Corp., the operational subsidiary of the Company, will change its name to DigiMax Capital Corp. In response to marketplace shifts away from the use of the term “Initial Coin Offering” or “ICO”, and in order to consolidate the two brand names of the Company into a single, recognizable brand name, management has decided to adopt the DigiMax name including the App Platform that is now available on both Google and Apple.

The App Platform will be promoted using the DigiMax name with reference to the previous ICO Max name until the App itself can be modified as required and approval is obtained from both Google and Apple to modify the name in the respective App Stores.

Closing of Private Placement

DigiMax completed a non-brokered private placement (the “Offering”) of an aggregate principal amount of $484,500 in secured convertible debentures (the “Convertible Debentures”). Each Convertible Debenture bears interest at a rate of 10% per annum, which is payable in cash to the holders thereof on the last date of each calendar quarter for a period of three years from the date of issue or the date the Convertible Debenture is converted. The Convertible Debentures are convertible: (i) at the option of the holder, or (ii) at the option of the Company upon the common shares of the Company having traded on a recognized stock exchange with a closing price equal to or greater than $0.20 for 20 consecutive trading days. On conversion, all of the principal amount of the then outstanding Convertible Debentures will convert into common shares (the “Common Shares”) and one-half (0.5) of one whole common share purchase warrant (the “Warrant”), at a conversion price that is the lesser of (i) $0.075, or (ii) 75% of the lowest price offered in a private placement of the Company’s common shares (the “Conversion Price”). Each whole Warrant is exercisable, for a period of 2 years from the date it is issued, to purchase one Common Share at a price that is 1.5 times the Conversion Price.

The Convertible Debentures issued pursuant to this Offering are subject to a statutory hold period of four months and one day from the closing date of the Offering.

Listing on Canadian Securities Exchange

DigiMax has begun discussions with, and has formally applied to list its Common Shares on the Canadian Securities Exchange. The Company will provide further updates as the application progresses.

About DigiCrypts Blockchain Solutions Inc, (dba DigiMax Global Solutions)

DigiMax is a reporting issuer formed in Ontario, Canada which was created for the express purpose of developing immediately profitable businesses in the Blockchain and Initial Coin Offering Space. Founded by 5 partners with decades of experience in both Initial Public Offerings and Initial Coin Offerings, the partners have a common goal to help the world develop ICO’s as a respectable, regulatory compliant security offering that is parallel in stature and compliance to common shares. DigiCrypts has a strong belief and commitment to helping ICO’s become a highly efficient, legal and secure complement to public shares issued by real and profitable companies from all industries.

Contacts:

Chris Carl
President & CEO
416-312-9698
chriscarl@rogers.com

David Posner
Chairman of the Board
647-985-6727
dposner44@gmail.com

Cautionary Note Regarding Forward-looking Statements

This press release contains “forward-looking statements”. Forward-looking statements can be identified by words such as: anticipate, intend, plan, goal, seek, believe, project, estimate, expect, strategy, future, likely, may, should, will and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding changing the Company’s name, potential conversion of the Convertible Debentures including the Conversion Price determination on listing of the Common Shares, and the Company’s pending application to list its Common Shares on the Canadian Securities Exchange.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the ability to obtain approval to list the Company’s Common Shares on the Canadian Securities Exchange, shareholders approving the change of name to DigiMax, the adequacy of our cash flow and earnings, the availability of future financing and/or credit, and other conditions which may affect our ability to expand the App Platform described herein, the level of demand and financial performance of the cryptocurrency industry, developments and changes in laws and regulations, including increased regulation of the cryptocurrency industry through legislative action and revised rules and standards applied by the Canadian Securities Administrators, Ontario Securities Commission, and/or other similar regulatory bodies in other jurisdictions, disruptions to our technology network including computer systems, software and cloud data, or other disruptions of our operating systems, structures or equipment.

Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Source: www.newsfilecorp.com