DGTL Holdings closes $140,000 private placement, CEO takes a stake
What's the deal? DGTL HoldingsDealroom has a profile for this one. Try Dealroom → has closed a non-brokered private placement, raising US$143.9K (roughly $140,000). The Toronto-based company, listed on the NEX board (NEX: DGTL.H), issued 9,813,000 common shares at US$0.01 each.
Where's the money going? Proceeds are earmarked for general working capital, with no single use accounting for 10% or more of the total. None of the funds will go toward investor relations.
Who took part? John Belfontaine, chief executive officer and a director, subscribed for 2,000,000 shares. Because he is an insider, the deal counted as a related-party transaction under Multilateral Instrument 61-101; the company relied on exemptions from valuation and minority approval rules, arguing the raise was meant to improve its financial position.
The fine print: Shares carry a statutory hold period expiring January 29, 2027, and insider shares face an additional four-month-and-one-day hold. The placement still needs final approval from the NEX and TSX Venture Exchange. No finder's fees or commissions were paid.
The signal: A raise of this size, paired with the CEO putting his own capital in, reads less as a growth round than as a modest step-up to shore up the balance sheet — a familiar move for microcap issuers on the NEX seeking runway rather than expansion.
Read more: wallstreet-online.de
Image credit: The City of Toronto
