DGTL Holdings Inc. Provides Corporate Update
DGTL Holdings Inc (TSXV: DGTL) has received final TSX Venture Exchange acceptance for trading reinstatement, expected within two business days.
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Rhea-AI Summary
DGTL Holdings Inc (TSXV: DGTL) has received final TSX Venture Exchange acceptance for trading reinstatement, expected within two business days. Due to working capital deficiency and lack of active business operations, as disclosed in their 2024 FYE audited financials, the company will be transferred to NEX, as it no longer meets Tier 2 Issuer requirements.
The company plans to rebuild working capital and explore merger and acquisition opportunities to potentially return to TSXV. Additionally, DGTL has updated Exchange filings regarding a past agreement with Red Cloud Securities Inc (RCSI), which provided market-making services from October 2021 for a monthly fee of $5,000. This agreement has expired, and RCSI currently maintains no interest in the company.
Positive
- None.
Negative
- Company faces working capital deficiency
- No current active business operations
- Downgrade from TSXV to NEX exchange
- No longer meets Tier 2 Issuer requirements
Details
News Market Reaction – DGTHF
The recorded move for DGTHF in the trading session of this news was +18.18%.
Data tracked by StockTitan Argus. Session date unavailable.
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Toronto, Ontario--(Newsfile Corp. - December 12, 2024) - DGTL Holdings Inc (TSXV: DGTL) ("DGTL" or "The Company") reports final TSX Venture Exchange ("Exchange") acceptance of a reinstatement of trading. An Exchange bulletin will be posted with an official trading reinstatement date (expected within two business days from the date of this release).
As a result of the recent restructuring process, and as disclosed in the 2024 FYE audited annual financial statements (filed October 22, 2024), the Exchange notes a working capital deficiency and no current active business operations. Thus, pursuant to Exchange Policy 2.5, the Exchange has determined that The Company does not currently meet the Continued Listing Requirements for a Tier 2 Issuer and is required to transfer its common shares to the NEX in conjunction with the acceptance of a reinstatement of trading. Moving forward, The Company reports that it plans to replenish working capital and evaluate new and accretive merger and acquisition opportunities that would qualify The Company to return to the TSXV.
In addition, pursuant to Exchange Policy 3.4, The Company reports that it has updated prerequisite Exchange filings for a past agreement with Red Cloud Securities Inc ("RCSI"). RCSI was engaged on October 1, 2021 to provide market making services in compliance with all applicable securities laws and Exchange policies. RCSI was paid a monthly fee of
For more information on DGTL Holdings Inc. please contact:
John Belfontaine
Chief Executive Officer
DGTL Holdings Inc.
Email: IR@dgtlinc.com
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233515
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