PANews July 8 - According to an official announcement, Australian crypto asset management company DigitalX (ASX code: DCC, OTCQB code: DGGXF) has announced that it has secured a strategic placement of approximately AUD 20.7 million through Animoca Brands, UTXO Management, ParaFi Capital, and other investors. Additionally, Animoca Brands co-founder Yat Siu will join the strategic advisory committee that DigitalX plans to establish.
Regarding the use of funds from this placement, approximately AUD 19.7 million will be used to expand the company's Bitcoin reserves, while the remaining funds will be used for the costs of this issuance and working capital. As part of this placement, company directors and related parties have committed to subscribing for AUD 610,000 of the placement shares, subject to shareholder approval.
