DMG Blockchain to Launch Innovative Overnight Offering for Growth

Overview of the New Offering by DMG Blockchain Solutions Inc.

DMG Blockchain Solutions Inc. (TSXV: DMGI) is excited to announce its latest initiative aimed at bolstering the company’s growth trajectory. The Vancouver-based firm has set the pricing and terms of its overnight marketed offering of units, an important step for its strategic advancement in the blockchain technology sector.

Details of the Overnight Marketed Offering

The company plans to issue 28,310,000 Units at a price of C$0.53 each. This offering is projected to generate gross proceeds of approximately C$15 million. Each Unit encompasses one common share and one common share purchase warrant, providing investors with an opportunity to engage in the company's future success.

Warrant Details

Investors will receive Warrants exercisable into common shares for a period of 60 months at an exercise price of C$0.65 per share. This structure not only makes the offering attractive but also showcases DMG's confidence in its future performance.

Regulatory Compliance and Jurisdictional Approvals

The Units will be offered through a prospectus supplement to the company's base shelf prospectus, ensuring that all regulatory requirements are met. The offering is expected to be available in various provinces across Canada, with specific exemptions applicable for potential U.S. investors.

Underwriter and Syndicate Involvement

The underwriting process will be led by Canaccord Genuity Corp., a recognized firm in the industry. The company has granted the Underwriters an option to acquire additional Units, which underscores DMG's proactive approach in managing market fluctuations and investor interests.

Strategic Allocation of Proceeds

The net proceeds from this offering will be strategically allocated towards DMG’s plans for the purchase of six one-megawatt hydro mining containers, marking a significant step in the company’s commitment to sustainable operations. Additionally, these funds will aid in working capital and other essential corporate functions.

Company Background and Vision

DMG Blockchain Solutions Inc. is dedicated to creating a fully integrated blockchain and data center technology enterprise. Its dual strategic pillars focus on core operations and innovative extensions, reinforcing DMG’s mission of environmental responsibility and vertical integration in the technology sector.

Commitment to Sustainability

The company is determined to lead in environmentally responsible blockchain practices, ensuring that sustainability is at the heart of its operational strategies. Developing these initiatives not only supports DMG's growth but also contributes positively to the broader blockchain ecosystem.

Looking Ahead

The anticipated date for the closing of this offering is approximately November 19, 2024, subject to customary conditions. DMG is committed to transparency and will keep stakeholders updated on the progress and outcomes of this offering.

Frequently Asked Questions

What is the purpose of DMG's overnight marketed offering?

The offering aims to raise funds for strategic investments including the purchase of hydro mining containers and other corporate needs.

When is the expected closing date for the offering?

The closing is expected to occur around November 19, 2024, pending standard market conditions.

Who are the underwriters for this offering?

Canaccord Genuity Corp. is the lead underwriter along with a syndicate that includes Roth Canada Inc. and Ventum Financial Corp.

How will the proceeds be utilized?

Net proceeds are allocated for purchasing hydro mining containers and for general working capital purposes.

What is DMG's commitment to sustainability?

DMG focuses on environmentally responsible practices within blockchain technology, making sustainability pivotal to its operations.

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