DMG Proclaims Closing of Cdn$70 Million Personal Placement Providing with Institutional Traders TSX Enterprise Alternate:DMGI


    VANCOUVER, British Columbia, March 05, 2021 (GLOBE NEWSWIRE) — DMG Blockchain Options Inc. (TSX-V: DMGI) (DMGGF:OTCQB US) (FRANKFURT:6AX) (“DMG” or the “Firm”), a vertically built-in blockchain and cryptocurrency know-how firm, is happy to announce that it has closed its beforehand introduced sale to U.S. and overseas institutional traders of its frequent shares (“Frequent Shares“) and warrants to buy frequent shares (“Warrants“) for combination gross proceeds to the Firm of roughly Cdn$70 million (the “Personal Placement“). Pursuant to the Personal Placement, the Firm issued 23,333,334 Frequent Shares and Warrants to buy as much as 11,666,667 Frequent Shares at a purchase order value of Cdn$3.00 per Frequent Share and related half Warrant. Every entire Warrant entitles the holder thereof to buy one Frequent Share at an train value of Cdn$3.55 per Frequent Share at any time on or earlier than March 5, 2024 (totaling one other Cdn$41.4 million as soon as exercised).

    We’re more than happy to finish this fairness financing above present market costs. The web proceeds from this financing will enable DMG to quickly advance its marketing strategy, its operations and pursue a wide range of new initiatives. We’re additionally more than happy to develop our institutional presence in the USA and overseas”, commented Dan Reitzik, CEO and Sheldon Bennett, COO, who collectively managed this course of for DMG.

    H.C. Wainwright & Co. acted because the unique placement agent for the Personal Placement.

    H.C. Wainwright & Co. acquired (i) a money fee of roughly Cdn$3.85 million (equal to five.5% of the gross proceeds of the Personal Placement) and (ii) 1,283,333 non-transferable compensation warrants (the “Agent Warrants“). Every Agent Warrant entitles the holder thereof to buy one Frequent Share at an train value of Cdn$3.75 per Frequent Share at any time on or earlier than March 5, 2024.

    The Firm intends to make use of the web proceeds of the Personal Placement for infrastructure enlargement (i.e., continued retrofitting of initially 30 and as much as 60 MW capability from air cooling to immersion cooling and basic upgrades to the power), gear purchases (i.e., obligatory applied sciences to develop DMG‘s self-mining infrastructure and hashrate at its Christina Lake facility to 2.0 EH/s in 2021 with the primary 1.0 EH/s deliberate by this summer time), funding in cryptocurrencies (i.e., shopping for Bitcoin), potential future acquisitions, fairness pursuits and partnerships, software program growth (i.e., additional developments of Blockseer and Walletscore as a part of DMG’s ongoing Bitcoin mining pool efforts), immersion cooling analysis and prototyping (i.e., together with all required technical parts of varied suppliers), enlargement of selling and gross sales actions and dealing capital and basic company functions. Particulars as to the supposed particular allocation of the proceeds are disclosed within the Prospectus Complement referred to beneath and additional enterprise growth bulletins shall be made by DMG sooner or later as they come up.

    The Frequent Shares and Warrants issued beneath the Personal Placement had been certified by the use of a prospectus complement dated March 4, 2021 beneath the Firm’s base shelf prospectus dated March 1, 2021 (collectively, the “Prospectus Complement”) which was filed in every of the provinces of Canada, besides Québec, copies of which can be found beneath the Firm’s profile at The Frequent Shares and Warrants had been supplied and offered in the USA on a personal placement foundation pursuant to exemptions from the registration necessities of the USA Securities Act of 1933, as amended (the “U.S. Securities Act”) and all relevant state securities legal guidelines, and in sure different jurisdictions in accordance with relevant securities legal guidelines. No securities had been supplied or offered to Canadian purchasers.

    The securities issued beneath the Personal Placement are topic to resale restrictions in the USA beneath relevant U.S. federal and state securities legal guidelines with no resale restrictions in Canada.

    This information launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase nor shall there be any sale of the securities in any jurisdiction through which such provide, solicitation or sale can be illegal previous to registration or qualification beneath the securities legal guidelines of any such jurisdiction. This information launch shall not represent a suggestion of securities on the market in the USA. The securities being supplied haven’t been, nor will they be, registered beneath the U.S. Securities Act and such securities is probably not supplied or offered inside the USA absent registration beneath U.S. federal and state securities legal guidelines or an relevant exemption from such U.S. registration necessities.

    About DMG Blockchain Options Inc.

    DMG is a vertically built-in blockchain and cryptocurrency firm that manages, operates, and develops end-to-end digital options to monetize the blockchain ecosystem. DMG’s companies are segmented into three predominant divisions: information centre operations, information analytics and forensics and creating enterprise blockchains. DMG’s information centre operations give attention to incomes revenues from block rewards and transaction charges by mining primarily bitcoin in addition to offering internet hosting providers for industrial mining shoppers. DMG’s information analytics and forensic providers present technical experience software program merchandise resembling Blockseer Pool, Mine Supervisor and Walletscore, in addition to working with auditors, regulation companies, and regulation enforcement organizations. DMG’s permissioned blockchain know-how is concentrated on creating enterprise software program for the provision chain administration of managed merchandise. DMG’s technique is to develop into the area specialists throughout the enterprise verticals it focuses on. DMG’s administration crew contains seasoned crypto specialists, forensic & monetary professionals and blockchain builders with deep relationships all through the business.

    For extra data on DMG Blockchain Options go to:

    On behalf of the Board of Administrators,

    Daniel Reitzik, CEO & Director

    For additional data, please contact:

    DMG Blockchain Options Inc.
    Electronic mail: 

    Neither the TSX Enterprise Alternate nor its Regulation Service Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts accountability for the adequacy or accuracy of this information launch.

    Cautionary Notice Relating to Ahead-Trying Data
    This information launch accommodates forward-looking data primarily based on present expectations. Ahead-looking statements contained on this information launch embody statements relating to the supposed use of proceeds from the Personal Placement, and the anticipated timelines to finish its enterprise targets. Ahead-looking statements include statements that aren’t purely historic, together with any statements relating to beliefs, plans, expectations or intentions relating to the longer term. Such data can usually be recognized by way of forwarding trying wording resembling “could”, “count on”, “estimate”, “anticipate”, “intend”, “consider” and “proceed” or the damaging thereof or related variations. The reader is cautioned that assumptions used within the preparation of any forward-looking data could show to be incorrect. Occasions or circumstances could trigger precise outcomes to vary materially from these predicted, on account of quite a few recognized and unknown dangers, uncertainties, and different elements, lots of that are past the management of the Firm, together with however not restricted to, market and different circumstances, volatility within the buying and selling value of the Frequent Shares, enterprise, financial and capital market circumstances; the flexibility to handle working bills, which can adversely have an effect on the Firm’s monetary situation; the flexibility to stay aggressive as different higher financed opponents develop and launch aggressive merchandise; regulatory uncertainties; entry to gear; market circumstances and the demand and pricing for merchandise; the demand and pricing of bitcoins; safety threats, together with a loss/theft of DMG’s bitcoins; DMG’s relationships with its prospects, distributors and enterprise companions; the lack so as to add extra energy to DMG’s amenities; DMG’s capability to efficiently outline, design and launch new merchandise in a well timed method that meet prospects’ wants; the flexibility to draw, retain and inspire certified personnel; competitors within the business; the influence of know-how adjustments on the merchandise and business; failure to develop new and progressive merchandise; the flexibility to efficiently preserve and implement our mental property rights and defend third-party claims of infringement of their mental property rights; the influence of mental property litigation that might materially and adversely have an effect on the enterprise; the flexibility to handle working capital; and the dependence on key personnel. DMG could not really obtain its plans, projections, or expectations. Such statements and data are primarily based on quite a few assumptions relating to current and future enterprise methods and the surroundings through which the Firm will function sooner or later, together with the demand for its merchandise, the flexibility to efficiently develop software program, that there shall be no regulation or regulation that can forestall the Firm from working its enterprise, anticipated prices, the flexibility to safe enough capital to finish its enterprise plans, the flexibility to realize objectives and the value of bitcoin. Given these dangers, uncertainties and assumptions, you shouldn’t place undue reliance on these forward-looking statements.

    The securities of DMG are thought of extremely speculative because of the nature of DMG’s enterprise.

    Elements that might trigger precise outcomes to vary materially from these in forward-looking statements embody, failure to acquire regulatory approval, the continued availability of capital and financing, gear failures, lack of provide of kit, energy and infrastructure, failure to acquire any permits required to function the enterprise, the influence of know-how adjustments on the business, the influence of Covid-19 or different viruses and illnesses on the Firm’s capability to function, safe gear, and rent personnel, competitors, safety threats together with stolen bitcoins from DMG or its prospects, client sentiment in the direction of DMG’s merchandise, providers and blockchain know-how usually, failure to develop new and progressive merchandise, litigation, improve in working prices, improve in gear and labor prices, lower within the value of Bitcoin, failure of counterparties to carry out their contractual obligations, authorities rules, lack of key staff and consultants, and basic financial, market or enterprise circumstances. Ahead-looking statements contained on this information launch are expressly certified by this cautionary assertion. The reader is cautioned to not place undue reliance on any forward-looking data. The forward-looking statements contained on this information launch are made as of the date of this information launch. Besides as required by regulation, the Firm disclaims any intention and assumes no obligation to replace or revise any forward-looking statements, whether or not on account of new data, future occasions or in any other case. Moreover, the Firm undertakes no obligation to touch upon the expectations of, or statements made by third events in respect of the issues mentioned above.

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