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DIGITALX LIMITED — Capital/Financing Update 2017
Jun 29, 2017
64762_rns_2017-06-29_65bdf6dd-5de5-48bd-8676-2caee2befb8e.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
30 June 2017
Due Diligence Successfully Completed by Blockchain Global Limited
DigitalX Ltd ( Company or DCC ) refers to the announcement on 7 June 2017 relating to the conditional agreement entered into with Blockchain Global Limited ( Blockchain Global ) pursuant to which Blockchain Global agreed to invest approximately $4.35m at 2.7 cents per share to acquire an interest in approximately 40% of the Company on a fully diluted basis, with the right to procure investors for 50% of its investment commitment.
The Company is pleased to advise that Blockchain Global has today notified the Company that it is satisfied with the results of its due diligence investigations on the Company, and therefore considers that condition satisfied. Blockchain Global has also advised that the conditions relating to an agreed use of funds budget and third-party approvals have also been satisfied.
As at the date of this announcement the outstanding conditions relate to approvals from the relevant regulators and from shareholders.
The Company is currently finalising the Notice of Meeting and Independent Expert Report which will be despatched to shareholders shortly along with a timetable for key dates to see the completion of the transaction, following which these final conditions will be satisfied.
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For further information, please contact
DigitalX Limited
Leigh Travers Chief Executive Officer [email protected] T: +61 439 376 847
About DigitalX
DigitalX is a Blockchain-enhanced software solutions group disrupting the payments industry. The Company’s Application, AirPocket allows consumers to make secure and cost-effective money transfers worldwide. Companies can use DigitalX’s AirID technology to leverage the benefits of the Blockchain.
Suite 5, 62 Ord Street, West Perth WA 6005 ● T: +61 8 9322 1587 ● E: [email protected]