DigitalX issues 1.89m shares as final tranche following settlement of ICO legal proceedings

Maria Nikolova

The company has issued a total of 1,896,422 shares at a deemed issue price of $0.061519 per share.

Blockchain-based solutions provider and ICO adviser DigitalX Ltd (ASX:DCC) has announced the issue of 1,896,422 shares at a deemed issue price of $0.061519 per share on June 18, 2019. This marks the third and last tranche pursuant to the settlement deed – an agreement between the parties in initial coin offering advisory case.

The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:

  • (a) the Company issued the Shares without disclosure to investors under Part 6D.2 of the Act;
  • (b) as at the date of this notice, the Company has complied with the provisions of Chapter 2M of
  • the Act as they apply to the Company, and section 674 of the Act; and
  • (c) as at the date of this notice, there is no information:
  • that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and
  • that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of the assets and liabilities, financial position and performance, profits and losses and prospects of the company; or the rights and liabilities attaching to the relevant shares.

The preceding share issue was announced on May 27, 2019, when the company said it issued a total of 1,576,568 shares at a deemed issue price of $0.074 per share. On May 13, 2019, DigitalX announced the issue of a total of 1,895,453 shares at a deemed issue price of $0.061551 per share.

This happened less than a week after the company said it had finalised the legal proceedings, which related to an Originating Application and Statement of Claim filed by a group of parties relating to an investment made by those parties in an initial coin offering (ICO) to which the company was an advisor. That share issue marks the first tranche pursuant to the settlement deed.

The Claim, as announced in September 2018, was for a combined amount of approximately US$1,833,077 plus damages. DigitalX has denied any and all wrongdoing.

The company entered into a settlement deed on May 7, 2019 to provide full release from the applicant’s claims without any admission of liability by DigitalX. Further, DigitalX has released the parties from any and all claims.

Read this next

Uncategorized

Moscow Exchange reports $350 billion in November FX volumes

FX trading volumes continued its upward momentum at Moscow Exchange (MOEX) during November, buoyed by a steady rise in volatility coupled with a multi-year effort to bring new business to the platform.

Retail FX

Interactive Brokers’ volumes continue growth trajectory in November

Interactive Brokers LLC (NASDAQ:IBKR) has announced higher trading volumes in November, dwarfing the metrics for October and the same period last year by 20 percent.

Retail FX

Exness trading volume hits record highs for second consecutive ‎month

FX broker Exness’ trading volumes have breached new highs in November, building on the record-breaking turnover streak from the beginning of the fourth quarter. That has been aided by the economic impact from the Covid-19 developments and inflation concerns that apparently sent investors hunting for FX instruments to limit their risk exposure.

Institutional FX

Hedge-fund legend Steven Cohen invests in Dmitri Galinov’s 24 Exchange

24 Exchange, the OTC platform backed by Fastmatch founder Dmitri Galinov, has completed a fresh fundraising round of $14.25 million at an undisclosed valuation. The recent capital injection was led by Point72 Ventures, the venture capital firm of the hedge fund titan Steven Cohen.

Digital Assets

Can Coinbase make or break XRP? – (Congress, XRP rating, JP Morgan)

According to Coinbase’s Council, XRP has the highest rating among 28 cryptos – meaning it is the closest you can get to a security: 4 out of 5.

Digital Assets

Polygon (MATIC) delves deeper into blockchain gaming by partnering with GameOn

Polygon, the Layer 2 scaling solution for Ethereum, has announced a partnership with GameOn Entertainment to build new and different types of NFT games on the network as it seeks to expand into the blockchain gaming and NFT space in a major way.

Retail FX

David Beckham to promote GemForex across Asia

GemForex makes efforts to lead in trading conditions, execution times, safety of client funds and data security, according to the FX and CFD broker holding a Mauritius Financial License.

Retail FX

InstaForex extends sponsorship deal with Borussia Dortmund after German Cup win

InstaForex provides access to trading of forex, CFDs, stocks, futures, options, and cryptocurrencies as the FX industry goes multi asset to address the needs of an increasingly demanding client base. 

Digital Assets

Treasury Secretary Yellen still cant decide on digital dollar

Treasury Secretary of the US, Janet Yellen, has said that she still is not sure whether the US should go ahead and have the digital dollar and follow the example of other major countries including China and India in introducing the same.

<