Digimax Announces Replacement of One Director and New CFO
Company Receives Conditional Listing Approval from Canadian Securities Exchange
Toronto, Ontario--(Newsfile Corp. - December 27, 2018) - DigiCrypts Blockchain Solutions Inc., now doing business as DIGIMAX GLOBAL SOLUTIONS (the "Company" or "DigiMax") is pleased to announce that it has appointed Steven Glaser to its Board of Directors, replacing Mr. Yoni Ashurov who has resigned due to personal constraints. In addition, the Company has appointed Mr. Kyle Appleby as part-time Chief Financial Officer. The Company has also received conditional approval from the Canadian Securities Exchange ("CSE") to commence trading pursuant to the completion of certain administrative requirements.
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New Director - Steven Glaser
Mr. Glaser is a financial service executive with a diverse background in corporate finance, communications and governance for private and public companies. He is currently Chief Operating Officer and Director, Pool Safe Inc., a company that designs, develops and distributes a product known as the "PoolSafe". From 2008 through 2017, Mr. Glaser worked in the corporate finance and investment banking arena focused on assisting late stage private and early stage public companies with strategic planning and capital raising. Prior to that, Mr. Glaser spent seven years as Vice President Corporate Affairs of Azure Dynamics Corporation. He was responsible for the company's corporate governance, its domestic and international stock exchange listings, as well as the build-out of the company's Investor Relations division. Mr. Glaser holds a Bachelor of Administrative Studies degree as well as an M.B.A. in finance.
Mr. Glaser will also chair the Compensation Committee.
New Chief Financial Officer - Kyle Appleby
Mr. Appleby was appointed Chief Financial Officer of DigiMax effective January 1, 2019. Mr. Appleby will assist the corporation in preparing for its upcoming January 31, 2019 year-end audit and will take on various other financial and control responsibilities of the company as it transforms into an active consulting company and registered service provider in Ontario, Canada, subject to regulatory approval.
Mr. Appleby spent the first ten (10) years of his career working in public accounting where he worked in both audit and advisory practices working with private companies and investment funds. In 2007, Mr. Appleby left the world of public accounting to focus on providing management and accounting services to public companies across a variety of industries including food production, agriculture, cannabis, technology, mining, crypto-currency and others. Mr. Appleby has been the Chief Financial Officer for numerous companies, listed in Canada, US and London and has extensive experience in financial reporting, providing strategic direction and leadership, IPOs, fund raising, and corporate governance. He holds a Bachelor of Economics and is a member in good standing of the Chartered Professional Accountants of Ontario.
Conditional Approval to List on the Canadian Securities Exchange
DigiMax received a letter on December 21, 2018 from the CSE stating that it has been conditionally approved to commence trading on the Exchange subject to the Company filing certain documents, completing a share escrow agreement for insiders, and final approval of Personal Information Forms for the Directors and key executives. The Exchange has also confirmed that the company has reserved the trading symbol "DIGI" to be used once trading commences.
As part of meeting the listing requirements, DigiMax consolidated its total number of shares outstanding on a 1:4 basis (one new common share for four old common shares) resulting in a reduction of the outstanding shares from 216,363,636 to 54,090,909 effective December 27, 2018.
DigiMax (legally named DigiCrypts Blockchain Solutions pending a name changed to be approved by Shareholders at the next Shareholder Meeting), is a Toronto, Canada based company designed to become a world leader in advising companies issuing Security Token Offerings (STO's) on a 100% Regulatory Compliant basis, in any country around the world.
DigiMax is a Reporting Issuer in Ontario, Canada and has filed an application to become listed on the Canadian Securities Exchange ("CSE").
DigiMax was formed by five partners, three of whom have vast experience in the crypto-currency and ICO industry and two of whom that have more than 40 years of combined experience raising capital through public companies and issuing of common shares. This partnership brings together all of the benefits and expediency of raising capital though security tokens, with a team that has decades of experience raising capital in conventional securities markets. The result is a team that combines expertise from both the token, and the conventional public capital markets world.
President & CEO
VP, Business Development
Telegram: Greg Limon
VP, Global Marketing
Telegram: Stan Milc
Chief Technical Officer
Telegram: Sergey Shilnov
Cautionary Note Regarding Forward-looking Statements
This press release contains "forward-looking statements". Forward-looking statements can be identified by words such as: anticipate, intend, plan, goal, seek, believe, project, estimate, expect, strategy, future, likely, may, should, will and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding changing the Company's name, potential conversion of the Convertible Debentures including the Conversion Price determination on listing of the Common Shares, and the Company's pending application to list its Common Shares on the Canadian Securities Exchange.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the ability to obtain approval to list the Company's Common Shares on the Canadian Securities Exchange, shareholders approving the change of name to DigiMax, the adequacy of our cash flow and earnings, the availability of future financing and/or credit, and other conditions which may affect our ability to expand the App Platform described herein, the level of demand and financial performance of the cryptocurrency industry, developments and changes in laws and regulations, including increased regulation of the cryptocurrency industry through legislative action and revised rules and standards applied by the Canadian Securities Administrators, Ontario Securities Commission, and/or other similar regulatory bodies in other jurisdictions, disruptions to our technology network including computer systems, software and cloud data, or other disruptions of our operating systems, structures or equipment.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.