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DMG Blockchain Solutions Inc. Announces Overnight Marketed Offering

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR THE DISSEMINATION, DISTRIBUTION, RELEASE OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES

VANCOUVER, British Columbia, Nov. 11, 2024 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSXV:DMGI) ("DMG" or the "Company") is pleased to announce that it has launched a "best efforts" underwritten overnight marketed offering (the "Offering") of units of the Company (the "Units").

The Offering is expected to be completed pursuant to an underwriting agreement (the "Underwriting Agreement") to be entered into between the Company and Canaccord Genuity Corp. as lead underwriter and sole bookrunner ("Canaccord Genuity" or the "Lead Underwriter"), and a syndicate of underwriters (collectively with the Lead Underwriter, the "Underwriters"). The Company has agreed to grant to the Underwriters an over-allotment option (the "Over-Allotment Option") exercisable, in whole or in part, in the sole discretion of the Lead Underwriter, to purchase up to an additional 15% of the number of Units sold in the Offering for up to 30 days from the closing date of the Offering.

The size of the Offering, the offering price of the Units and the terms of the Units will be determined in the context of the market at the time of entering into the Underwriting Agreement and there can be no assurance as to completion of the Offering. The closing of the Offering is expected to occur on or about November 19, 2024 and will be subject to market and other customary conditions.

The net proceeds of the Offering are expected to be used for DMG's recently announced purchase of six one-megawatt hydro mining containers, scheduled for delivery and installation in the current quarter as well as working capital and other general corporate purposes.

The Offering will be conducted by way of a prospectus supplement (the "Prospectus Supplement") to the Company's base shelf prospectus dated October 1, 2024 (the "Base Shelf Prospectus") to be filed in each of the provinces of Canada, except Quebec, and the Units may be also offered in the United States on a private placement basis pursuant to exemptions from the registration requirements under Rule 144A and/or Regulation D of the United States Securities Act of 1933, as amended (the "1933 Act"), subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange, and in ...