DigitalX completes capital raising, names two new directors

Maria Nikolova

The company has received the additional $4.05 million from Blockchain Global Limited (BGL) and other investors nominated by BGL.

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DigitalX Ltd (ASX:DCC), a company for Blockchain-enhanced software solutions, has completed the capital raising approved at the general meeting on August 25, 2017. Today, the company announced that it has received the additional $4.05 million from Blockchain Global Limited (BGL) and other investors nominated by BGL. In addition, the company has converted the previous $300,000 loan received from BGL.

This announcement follows that from June 7, 2017, when DigitalX said it had secured investment of approximately $4.35 million from Blockchain Global and associated investors. Blockchain Global agreed to invest the sum at 2.7 cents per share to acquire an interest of approximately 40% of DigitalX.

In today’s announcement, DigitalX also said that in accordance with the terms of the subscription agreement, BGL have also nominated, and the Board has also accepted those nominations, of two new Directors, Mr Peter Rubinstein and Mr Sam Lee.

Mr Rubinstein, lawyer by training, has more than 20 years of experience in early stage technology commercialization. He is also Chairman of EasyPark ANZ, an early adopter of the “Smart City” opportunities for digital parking. Mr Rubinstein is set to become Chairman of DigitalX.

Mr Sam Lee is the founder and CEO of BGL. He will assume the role of a Non-Executive Director at DigitalX.

DigitalX continues to build up its offering and network of partners. Earlier this month, DigitalX unveiled a partnership with Stargroup Ltd (ASX:STL). The two companies are planning to set up a joint venture that will see them collaborate on offering and tailoring “Two-way ATM” solutions for buying and selling Bitcoin.

In August, DigitalX announced a partnership with Bankera to provide it with consultancy services. DigitalX will act as an advisor to Bankera’s initial coin offering (ICO), which is a part of Bankera’s plan to build a digital bank for the Blockchain era. Earlier this year – in April, DigitalX unveiled a collaboration with professional software developer Lateral. The key goal of the collaboration is the creation of Blockchain and distributed ledger products for large enterprises in Australia and a number of regions in Asia.

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