DigiMax Global Solutions is pleased to provide the following update regarding the numerous revenue-oriented development activities inside of the company
DigiCrypts Blockchain Solutions Inc., (CSE:DIGI) now doing business as DigiMax Global Solutions (the “Company” or “DigiMax”) is pleased to provide the following update regarding the numerous revenue-oriented development activities inside of the company.
While each of the subjects discussed in this Release may not be worthy of its own Press Release, the management team of DigiMax believes that its shareholders and investors should be aware of the many exciting developments that are nearing completion and either are, or are about to be, generating revenue for the Company. While most of our efforts are oriented toward becoming a world leader in the digital security space, these developments have also been designed to generate revenues in conventional securities markets as well. This ensures that DigiMax can prosper and enjoy rapid, serial growth regardless of how quickly the digital securities markets develop. The items discussed below are just some of the more prominent developments currently in progress.
DigiMax now has 7 full-time people working toward a growing number of projects expected to generate revenue within the next quarter. Most of these are commission based, registered sales people who do not add to a monthly fixed cost burden. Additional people are being added each month around the globe.
DigiMax has begun to close its first financing on behalf of a publicly listed issuer in Canada. The aggregate amount of funding to be completed by DigiMax is up to $5 million and a material amount of subscriptions are already complete.
DigiMax has entered into signed funding engagements with 7 active clients during the past 6 months with funding requirements totalling $200 million. DigiMax has evolved its issuer selection criteria to include only companies that have either growing recurring revenue, or contracted revenue that will support strong global growth. As a result of this modified requirement, DigiMax has attracted numerous potential investors for each Issuer and is working toward closing each of these issues in the coming weeks and months.
In addition to the issuers described above, the ReGen global renewable project comprises large infrastructure projects that includes multiple sources of renewable energy on 4 continents. Projects for which contracts have been awarded to ReGen exceed $1.5 billion and additional projects for which applications have been submitted exceed an additional $3.5 billion. DigiMax is working closely with the project sponsors, including new DigiMax Director, Riccardo Segat, to both ensure the projects are fundable through a conventional structured-finance model, while at the same time attracting digital security investors. DigiMax will assist ReGen in launching a series of digital security instruments before the end of this calendar year to fund these projects.
DigiMax is working with EU partners to enable them to use the previously developed digital securities advertising App called FlyerDrop through third-party leasing contracts. The first of these contracts is expected to commence before the end of 2019 generating substantial revenue over the next year. DigiMax is also working with these same partners to explore the possibility of DigiMax issuing its own STO in the EU to raise capital in exchange for a share of revenue earned through the EU.
DigiMax is working with its collaboration partner, KoreConX to get regulatory approval to launch its own security offering App in North America. The platform has already been developed by KoreConX and has been approved for use by major securities regulators around the world. DigiMax will layer its own information onto this platform on a white-label basis (users will only see the DigiMax name) to attract qualified issuers, registered dealers and salespeople, and both accredited and non-accredited investors whereby the two types of investors will only be able to access those securities for which they are qualified as a potential investor. This platform brings potential issuers, registered sellers and potential investors together through a single portal for easier matching of issuers and investors, but the platform does not act as any form of exchange. Once approved for use in North America, DigiMax plans to offer this platform in every country in which DigiMax becomes registered.
DigiMax is working, in most cases with other registered individuals, to become directly registered as a DigiMax broker dealer in several countries including the UK, US, UAE, and Singapore with a view to gaining these registrations by the end of the second quarter of 2020. As these registrations are completed, more countries will be added.
DigiMax will hold its Annual General Meeting on November 14, 2019 in Toronto. Among other things to be discussed and approved, the name of the company is expected to be approved to be changed to DigiMax Global Solutions Inc. from the current DigiCrypts Blockchain Solutions Inc. As a publicly listed company, this name change could only be completed at a shareholders meeting, where an AGM is such a meeting.
DigiMax is based in Toronto and is the first global company in the Digital Security space to be both publicly listed (listed on the Canadian Securities Exchange-symbol: DIGI) and to be approved by OSC in Ontario, Canada as an ‘Exempt Market Dealer’.
DigiMax is currently seeking to become a registered dealer in several other countries and is developing a state-of-the-art platform with its partners to provide qualified investors preferred access to high quality digital security offerings in the rapidly growing Digital Security market.
DigiMax also assists companies to raise capital through traditional forms of securities.
The Company has a highly qualified management team with extensive experience in global financial and capital markets, combined with a rapidly expanding global presence with joint venture partnerships already established in such important geographies as USA, Hong Kong, Indonesia, Malaysia, England, Singapore, Korea and Malta with discussions or negotiations underway in several more.
President & CEO
VP, Business Development
Telegram: Greg Limon
VP, Global Marketing
Chief Product Officer
Telegram: Sergey Shilnov
Cautionary Note Regarding Forward-looking Statements
NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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.
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: 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.