DGTL Holdings Inc. (TSX-V:DGTL, OTCQB:DGTHF) said it has closed its previously-announced non-brokered private placement, raising gross proceeds of $725,200 by issuing 14,504,000 company units at a price of $0.05 each.
The digital media technologies accelerator said proceeds from the offering will be used to expand addressable client markets via the development of a trial access version of the company's data analytics PaaS (Platform-as-a-Service) TotalSocial, business development therein, and general working capital.
Each unit comprises one company common share plus one half of one common share purchase warrant, with each whole warrant entitling the holder to acquire one additional DGTL Holdings common share at a price of $0.07 per share for a period of 24 months after the date of issuance of the warrants.
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DGTL noted its CEO John Belfontaine acquired 4.4 million units of the private placement, while independent directors David Beck and George Kovalyov acquired 150,000 units each.
It added that the units, common shares, warrants, compensation warrants and any common shares issued upon the exercise of the warrants or compensation warrants will be subject to a hold period of four months and one day from the date of issuance.
As well, in connection with the offering, the company said it has paid finder's fees to certain registered brokerage firms, comprised of a cash payment of $6,000, and issued 120,000 non-transferable compensation warrants, substantially upon the same terms and conditions as the warrants.
Based in New York, DGTL (Digital Growth Technologies and Licensing) is a digital media technologies accelerator with flagship digital marketing content and data analytics brand TotalSocial.
The company specializes in accelerating fully commercialized enterprise-level SaaS (Software-as-a-Service) companies entering a rapid growth lifecycle stage within the sectors of social, mobile, gaming, and streaming.
Contact Sean at sean@proactiveinvestors.com