VANCOUVER, British Columbia, Dec. 28, 2017 (GLOBE NEWSWIRE) — Aim Explorations Ltd. (TSX-V:AXN.H) (“AIM” or the “Company“), is pleased to announce that in connection with the previously announced transaction with DMG Blockchain Solutions Inc. (“DMG“) (the “Transaction“), it has completed its previously announced private placement (the “Offering“) of subscription receipts (each, a “Subscription Receipt“) led by Canaccord Genuity Corp. (the “Lead Agent“) and Paradigm Capital Inc. (together with the Lead Agent, the “Agents“). Pursuant to the terms of the agency agreement (the “Agency Agreement“) among the Company, DMG and the Agents dated December 28, 2017, the Offering included the sale of 35,076,000 Subscription Receipts at a price of C$0.80 per Subscription Receipt, for aggregate gross proceeds of C$28,060,800. The gross proceeds of the Offering (the “Escrowed Proceeds“) will be held in escrow by Computershare Trust Company of Canada (the “Escrow Agent“) pursuant to a subscription receipt agreement between AIM, DMG, the Lead Agent and the Escrow Agent and will be released upon completion of the escrow release conditions. The Transaction will constitute a Qualifying Transaction as defined in the policies of the TSX Venture Exchange (the “Exchange“) and the resulting issuer will be a Tier 2 technology issuer (the “Resulting Issuer“).
Pyfera Capital
