Minds + Machines Group Limited cancelled the acquisition of 12.9% stake in DigitalTown, Inc..
December 04, 2018
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Minds + Machines Group Limited (AIM:MMX) entered into an agreement to acquire 12.9% stake in DigitalTown, Inc. (OTCPK:DGTW) for $2 million on December 5, 2017. Under the transaction, Minds + Machines agreed to purchase up to $2 million of the issued and outstanding stock, in consideration of $0.5 million paid on December 6, 2017, $0.5 million on March 1, 2018, $0.5 million on June 1, 2018 and $0.5 million on September 6, 2018. The transaction is subject to customary closing conditions, including representations and warranties shall have been accurate.
Minds + Machines Group Limited (AIM:MMX) cancelled the acquisition of 12.9% stake in DigitalTown, Inc. (OTCPK:DGTW) on December 5, 2018.
DigitalTown, Inc. provides turn-key hosted solutions to power a platform for government entities, citizens, and merchants. The Company provides an alternative to multi-national search engines and marketplaces, saving merchants money. The Company's DigitalTown platform helps city officials and local merchants manage a smart city for Web and mobile devices and provides residents and visitors with access to content, community and commerce. The DigitalTown platform supports online and mobile communities. It enables commerce and fulfillment in local communities, thereby helping residents to buy locally while equipping merchants to sell locally. The Company's wholly owned subsidiary is Comencia Inc.
DIGITALTOWN, INC. 
