Didicrypts announces change of business name to Digimax Global Solutions and closing of convertible debenture private placement.
Toronto, Ontario – DigiCrypts Blockchain Solutions Inc. (the “Company” or “DigiMax
Global”) is pleased to announce an update pertaining to the business developments of the
- 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 Global announces completion of a $484,500 Convertible Debenture Private
- DigiMax Global.
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 onehalf
(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
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.
President & CEO
Chairman of the Board