AI assistant
DIGITALX LIMITED — Capital/Financing Update 2018
Sep 17, 2018
64762_rns_2018-09-17_3ee5b1bc-725e-401d-bfad-ad8b9ef75d53.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [126 x 42] intentionally omitted <==
==> picture [133 x 28] intentionally omitted <==
ASX ANNOUNCEMENT
18 September 2018
ICO platform development and funding commitment
DigitalX Ltd (DigitalX or the Company) is pleased to advise of the development of an Initial Coin Offering (ICO) issuance platform, FutureICO, being developed in a joint venture that has received a funding commitment from First Growth Funds Limited (ASX:FGF) ( First Growth ).
DigitalX has established a joint venture company, FutureICO Pty Ltd (FutureICO) with Blockchain Global Ltd and Big Start Pty Ltd to develop and operate the platform. The platform is designed to provide a seamless way for ICO applicants and ICO issuers to interact under a compliant framework.
FutureICO leverages the key expertise of the three groups, namely Blockchain development, cryptoasset security and knowledge of cryptoasset compliance.
The platform has been in a research and development phase with the parties targeting launch this financial year, subject to clearing all regulatory and compliance hurdles.
FutureICO and the joint venture parties have entered into a binding terms sheet with First Growth, pursuant to which First Growth will subscribe for 25% of the equity in FutureICO, to the value of US$285,000. The subscription will also see First Growth have the right to appoint a nominee to the board of FutureICO. Following the subscription, the capital structure of FutureICO will be approximately DigitalX (34%), Blockchain Global Limited (34%), Big Start Pty Ltd (7%) and First Growth (25%).
The Company will provide further updates in due course.
-ENDS-
For further information, please contact
DigitalX Limited
Leigh Travers Managing Director [email protected] T: +61 439 376 847
About DigitalX
DigitalX is positioned as the leading publicly listed ICO and STO corporate advisory firm globally. DigitalX is based out of Perth and New York and provides ICO/STO advisory services, Blockchain consulting services, cryptoasset funds management through DigitalX Investments and Blockchain education through Coincast Media.
Suite 5, 62 Ord Street, West Perth WA 6005 ● T: +61 8 9322 1587 ● E: [email protected]
About First Growth Funds
First Growth Funds Limited is an investment company which structures, manages and advises a portfolio of investments covering small and medium companies and cryptoassets ahead of an initial public offering or initial coin offering.
About Blockchain Global
Blockchain Global is a leading multi-national enterprise with a vision to uplift trust throughout the digital spectrum. Bringing a focus on commercialising blockchain technology through a venture builder model, the company has invested more than US$200 million in over 50 blockchain enabled companies and projects.
With offices in Melbourne, Perth, New York, Kobe, Kuala Lumpur, Shanghai, Suzhou and Dalian, Blockchain Global plays a vital role in supporting the blockchain ecosystem through developer house and management consulting.
About Big Start
Big Start Pty Ltd is an Australian Financial Services Licensee (AFSL 474592) offering specialist financial services solutions for FinTech, Blockchain, Digital Assets and Equity Crowdfunding companies.