DGL Investments Eyes Cybersecurity with DACTA Merger
Vancouver, B.C. -- January 15, 2024 -- NewsGenie -- DGL Investments No. 1 Inc. (TSXV:DGL.P) has announced a proposed business combination with DACTA SG PTE. LTD., a Singapore-based cybersecurity firm, marking a significant step towards a "Qualifying Transaction."
DACTA, established in 2019, specializes in delivering end-to-end cybersecurity solutions to enterprises and government entities. With experience servicing over 200,000 endpoints, DACTA offers comprehensive cyber-protection by deploying and integrating over 30 cybersecurity solutions.
DGL and DACTA have entered a non-binding Letter of Intent (LOI) dated January 11, 2024, to complete a business combination. DGL will consolidate its securities, and the Resulting Issuer will issue shares to DACTA's shareholders, valuing DACTA at the economic equivalent and voting power of 83,333,333 common shares of the Resulting Issuer.
DACTA intends to complete a private placement, with additional Resulting Issuer Shares issued to acquire shares of DACTA issued to investors in the Private Placement.
Upon completion, the transaction will constitute DGL's "Qualifying Transaction" under TSX Venture Exchange policies. A comprehensive news release with details, including financial information, insider details, and sponsorship information, will follow a definitive agreement and due diligence completion.
Shareholder approval isn't expected, but the final structure might require approval for ancillary matters. Trading of DGL's shares is halted until the Transaction completes or the Exchange receives necessary documentation.
The Resulting Issuer is expected to be renamed and listed as a Tier 2 Technology Issuer on the Exchange. ARC Group Limited is DACTA’s financial advisor for the transaction.
David W. Smalley, Corporate Secretary of DGL Investments No. 1 Inc., can be contacted for further information at (604) 618-2748 or david@smalleylawcorp.com.