Transaction Update for DigiMax Acquisition of Spetz Tech Limited

TORONTO, ON / ACCESSWIRE / July 15, 2022 / DIGIMAX GLOBAL INC. (the "Company" or "DigiMax") (CSE:DIGI)(OTC PINK:DBKSF). Pursuant to the June 23, 2022, announcement of the signing of the Definitive Agreement, DigiMax is pleased to report that the companies have completed substantially all closing tasks and the closing is now subject to satisfactory receipt of audited statements from the Spetz auditors for December 31 2020 and 2021, restated under IFRS guidelines.

During this period, Spetz is continuing to operate and grow its existing businesses in Israel, the UK and Australia and is working toward a North American launch before the end of this calendar year.

A demonstration of their success was noted recently as Spetz achieved #2 ranking in the Lifestyle Category on Israel Google Play behind only Pinterest. This is a demonstration of how well the brand is known and received in the jurisdictions in which it operates.

In addition to this, Spetz recently aligned their Israeli market with their global markets, UK and Australia, by launching their service provider app in both iOS and Android. After only a few weeks of its launch the app has reached a rating of 4.9 out of 5 in the Google Play Store in Israel, demonstrating the benefit of the Spetz app in growing the businesses of service providers.

Further, Spetz has recently launched a new partnership with Trade Trak, a leader in technology solutions for all trade service industries providing software and technology solutions to help trades streamline their businesses and processes. Through this partnership, Spetz has developed an advanced integration between the systems to allow service providers to receive all job requests inside the Trade Trak platform to easily manage invoicing, job scheduling and more. This partnership will allow Spetz access to thousands of service providers across Australia in order to rapidly grow their own provider database.

About Spetz

Spetz is an established AI technology company with operations in Israel, the United Kingdom and Australia. Through its mobile application, Spetz's patent-pending AI technology is able to generate the best-matched service solution for any given consumer for any given service in around 30 seconds, enabling immediate direct contact between the service provider and consumer. Spetz's experienced management and advisory team has decades of experience in the service provider industry and artificial intelligence applications.

More information can be seen at:

Website - https://www.spetz.app
Google App Store - https://play.google.com/store/apps/details?id=com.sinapis.gpage
Trustpilot - https://www.trustpilot.com/review/spetz.co.uk
Spetz Service Provider Commentary - https://www.youtube.com/watch?v=dJ5-WpyU9tU

About DigiMax

DigiMax is an AI technology Company committed to unlocking the potential of disruptive technologies by providing advanced financial, predictive, and cryptocurrency solutions across various verticals. DigiMax is an official IBM partner, and the Company's engineering team has extensive experience in Machine Learning, Neural Language Processing, AI, Big Data, and Cryptocurrency technology.

To learn more, visit our website: https://digimaxglobal.com/

Contact: 1-(833)-DIGIMAX (833-344-4629)

Edward Murphy
Chair of Board of Directors
416-720-0456
emurphy@digimax-global.com

Chris Carl
President & CEO
(833) 344-4629 x700
ccarl@digimax-global.com

Cautionary Note Regarding Forward-looking Statements

NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Certain information in this press release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or negatives of these terms and similar expressions. In this press release, forward-looking statements relate, among other things, to: the ability of the Company and Spetz to complete the Transaction on the terms outlined above, [the ability of the Company to attain final approval of the Transaction by the Israeli Tax Authority, the CSE and satisfy the remaining closing conditions], DigiMax's continued growth and profitability and ability to continue to provide solutions across various verticals, the anticipated synergies between Spetz and the Company, the expectation that Spetz's application will be adopted by the North American market and the anticipated rate of adoption. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements.

Forward-looking statements are based on certain assumptions. While the Company considers these assumptions to be reasonable based on information currently available, they are inherently subject to significant business, economic and competitive uncertainties and contingencies and they may prove to be incorrect.

Forward-looking statements also necessarily involve known and unknown risks, including without limitation, risks associated with general economic conditions, including the COVID-19 pandemic, a lack of interest in Spetz's application in the North American market, ability to complete favorable acquisitions, income tax and regulatory matters in Canada and Israel.

Readers are cautioned that the foregoing is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ from those anticipated. Forward-looking statements are not guarantees of future performance. The purpose of forward-looking information is to provide the reader with a description of management's expectations, and such forward-looking information may not be appropriate for any other purpose. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Forward-looking statements contained in this news release are speak as to the date hereof, and are expressly qualified by this cautionary statement.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, DigiMax assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

SOURCE: DigiMax Global Solutions