Fri, 23 Oct 2020

DigiMax Completes Acquisition of DataNavee

ACCESSWIRE
18 Sep 2020, 22:50 GMT+10

TORONTO, ON / ACCESSWIRE / September 18, 2020 / DigiCrypts Blockchain Solutions Inc. o/a DIGIMAX GLOBAL SOLUTIONS (the 'Company' or 'DigiMax') (CSE:DIGI) is pleased to announce that it has completed the acquisition of DataNavee Corporation. Pursuant to the terms of the share purchase and exchange agreement, DigiMax issued the shareholders of DataNavee (the 'Vendors') 55,000,000 common shares of DigiMax (the 'Consideration Shares') in exchange for 100% of the issued and outstanding shares of DataNavee. Accordingly, DataNavee is now a wholly owned subsidiary of DigiMax.

The Consideration Shares are subject to contractual hold periods resulting in them being transferable in four tranches including 25% immediately, 25% four months after today's date, 25% eight months after today's date, and 25% twelve months after today's date.

Immediately prior to the acquisition, DigiMax had 69,776,367 shares outstanding and following the close, 124,776,367 shares are outstanding.

DataNavee is creating a self-service platform for small and large organizations by providing business predictions without the need for in-house data scientists at a fraction of the cost and time. (See www.datanavee.com for more detailed information).

DataNavee technology is based on a SaaS model whereby businesses can subscribe on a monthly basis to obtain valuable data-analytics for their business at a small fraction of the cost that would normally involve having a team of in-house technicians and finance professionals.

We are focusing on three primary industry applications at present including Retail, Healthcare and Financial Services,' said Norm Akierman, founder and CEO of DataNavee. By offering the predictive analytics at such a substantial reduction to current costs, and by offering this through a SaaS model, there is really no limit to the global demand we are already witnessing from companies around the world.'

DataNavee's Auto AI, combined with its unique Machine Learning Prediction Technology will concentrate on delivering solutions for these common business issues:

  • inventory requirement predictions to help maintain optimal inventory levels
  • more accurate supply chain forecasting & management
  • invoice payment predictions
  • sales predictions
  • investor and issuer predictions
  • healthcare analytics

'DataNavee is democratizing big data,' said DigiMax CEO Chris Carl. 'The physical computing power is no longer the problem in managing big data - but the ability to obtain the data in real-time, and to perform the necessary functions on that data to make it valuable to the subscriber is what really counts. DataNavee has created an entirely new paradigm to make this happen at an incredibly low-cost for businesses - meaning more businesses can access the decision making and predictive power available from what is historically such high cost data analytics. DigiMax expects to utilize the DataNavee technology to improve the quality, and relevance, of the service we provide to both Issuers and Investors to help them make better and faster decisions, and to assist in getting good deals funded faster.'

About DataNavee

DataNavee has been incorporated to draw together the efforts of a team of artificial intelligence engineers and developers from around the world.

It is currently focused on providing solutions that utilize 'predictive analytics as a service' so that clients can upload their own data sets as input for the predictive software and be provided with custom reports. This direct access approach eliminates the needs for clients to maintain expensive inhouse scientists, while at the same time producing highly sophisticated predictive analytics at a small fraction of the cost of custom in-house solutions.

About DigiMax

DigiMax is based in Toronto and is the first company in the Digital Security space to be both publicly listed (listed on the Canadian Securities Exchange-symbol: DIGI) and own a registered securities dealer, DigiMax Capital Corp., an 'Exempt Market Dealer' registered in Ontario.

The Company has a highly qualified management team with extensive experience in global financial and capital markets, combined with a rapidly expanding global presence through collaborative partnerships in the USA, Hong Kong, Indonesia, Malaysia, England, Singapore, Korea and Malta.

Contacts DigiMax:

Chris Carl
President & CEO
416-312-9698
ccarl@digimax-global.com

Edward Murphy
Chairman
416-720-0456
emurphy@digimax-global.com

Cautionary Note Regarding Forward-looking Statements

NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

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.

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: 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, and risks related to COVID-19 including various recommendations, orders ‎and ‎‎measures of governmental ‎‎authorities ‎to try to limit the pandemic, including travel restrictions, border closures, ‎‎‎non-essential business ‎‎closures, ‎quarantines, self-isolations, shelters-in-place and social distancing, disruptions ‎‎to ‎markets, economic ‎‎activity, ‎financing, supply chains and sales channels, and a deterioration of general ‎‎economic ‎conditions ‎‎including a ‎possible national or global recession‎; as well as those risk factors discussed or ‎‎referred to in ‎the ‎Company's disclosure ‎documents filed with the securities regulatory authorities in certain ‎‎provinces of Canada ‎‎and available at ‎www.sedar.com. Should any factor affect the Company in an unexpected ‎‎manner, or should ‎‎assumptions ‎underlying the forward-looking information prove incorrect, the actual results or ‎‎events may differ ‎‎materially ‎from the results or events predicted. Any such forward-looking information is ‎‎expressly qualified in its ‎‎entirety by ‎this cautionary statement. Moreover, the Company does not assume ‎‎responsibility for the accuracy or ‎‎‎completeness of such forward-looking information. The forward-looking ‎‎information included in this press release ‎‎is ‎made as of the date of this press release and the Company undertakes ‎‎no obligation to publicly update or revise ‎‎any ‎forward-looking information, other than as required by applicable ‎‎law.

SOURCE: DigiMax Global Solutions



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