DMG Blockchain Solutions Completes $17.25 Million Unit Offering

DMG Blockchain Solutions Inc. Finalizes Significant Unit Offering

DMG Blockchain Solutions Inc. (TSXV: DMGI) has reached a notable milestone by concluding its recently announced unit offering, amassing substantial gross proceeds of approximately $17,254,945. This achievement arrives as DMG positioned itself as a leader in the blockchain and cryptocurrency sector, integrating sustainable technology into its operations.

Details of the Successful Unit Offering

This offering comprised an impressive total of 32,556,500 units, showcasing investor confidence in DMG's future prospects and technological advancements. The offering price was set at $0.53 per unit, which led to a significant response from the market. Included within this arrangement were 4,246,500 units derived from the full exercise of a previously established over-allotment option.

Underwriters and Financial Structure

Prominent investment banking firm Canaccord Genuity Corp. led the offering as the chief underwriter, supported by a syndicate that included Roth Canada Inc. and Ventum Financial Corp. The underwriting agreement stipulates the payment of a 6% cash fee on total gross proceeds to the underwriters for their expertise and services in facilitating this transaction. Additionally, broker warrants equivalent to 6% of units sold were issued to the underwriters on closing.

Strategic Utilization of Proceeds

DMG plans to allocate the net proceeds from this offering towards several key initiatives, emphasizing the acquisition of six one-megawatt hydro mining containers. The anticipated delivery and installation of these units are scheduled for the current quarter. Overall, the funds will bolster DMG's working capital and support various corporate objectives aligned with its operational strategy.

Approval and Compliance

The securities included in this offering have received conditional approval from the TSX Venture Exchange, pending customary conditions, ensuring DMG's compliance with regulatory standards as it continues operating within a robust legal framework. The company maintains a proactive stance on adherence to required guidelines, underscoring its commitment to transparency and corporate governance.

About DMG Blockchain Solutions Inc.

DMG Blockchain Solutions Inc. stands out as a pioneering entity in the sustainable blockchain landscape, focusing on vertically integrated technology solutions to harness the expansive potential of the blockchain ecosystem. Central to their operational philosophy is a commitment to environmentally-friendly practices while advancing digital asset management through their subsidiary, Systemic Trust Corporation, which emphasizes precise custody protocols for various digital assets.

Improving Community Engagement

As DMG enhances its offerings, the company continues to engage with the community through various channels. Their active presence on social media platforms allows DMG to promote its vision, attract new audiences to its innovative approaches, and foster discussions around cryptocurrency and blockchain technology. You can follow @dmgblockchain for the latest updates.

Frequently Asked Questions

What was the total amount raised in DMG’s offering?

DMG Blockchain Solutions Inc. successfully raised $17,254,945 through its recent unit offering.

Who were the underwriters for the unit offering?

The offering was led by Canaccord Genuity Corp., along with underwriters including Roth Canada Inc. and Ventum Financial Corp.

How will DMG use the proceeds from the offering?

The proceeds will primarily fund the purchase and installation of hydro mining containers and support DMG's working capital and corporate operations.

Are the securities from the offering expected to be listed?

Yes, the TSX Venture Exchange has conditionally approved the listing of the securities, which includes unit shares and warrants.

What is DMG’s core business focus?

DMG Blockchain Solutions Inc. focuses on sustainable blockchain technology and the management of digital assets, positioning itself as a comprehensive service provider in the industry.

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