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INX Limited Closes CA$39.6 Million Subscription Receipt Private Placement in Connection with Going-Public Transaction

April 1, 2021
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INX Limited ("INX") is pleased to announce that it has closed its previously announced private placement of subscription receipts (each, a "Subscription Receipt") at CA$1.25 per Subscription Receipt for aggregate gross proceeds of CA$39,600,000 (the "Financing").

The Financing was conducted in connection with INX's going-public transaction on the TSX Venture Exchange via a Reverse Take Over of Valdy Investments Ltd. ("Valdy"), whereby Valdy will acquire all of the issued and outstanding shares of INX (the "Transaction") pursuant to the terms of a securities exchange agreement dated March 31, 2021 among Valdy, INX, the securityholders of INX, and the Co-Lead Agents (as defined below) in exchange for the issuance of Valdy securities to the former securityholders of INX. Upon completion of the Transaction, INX will become a wholly-owned subsidiary of Valdy, and the combined entity (the "Resulting Issuer") will continue the business of INX.

Shy Datika, Co-Founder & President of INX commented, "INX breaks new ground by connecting the legacy world of equity capital markets with the innovative blockchain-based digital asset class. We are the first company to issue a Security Token through an SEC-registered public offering, and we fortify it now with further transparency and regulatory clarity with this upcoming listing. We strongly believe that digital assets are the future of equity capital markets, and aim to become the bridge between both worlds."

Additional details regarding the private placement and the Transaction are included in a Form 6-K filed with the Securities and Exchange Commission on March 31, 2021.

The brokered portion of the Financing was conducted through a syndicate of agents led by PI Financial Corp. and Eight Capital (together, the "Co-Lead Agents"), and including Beacon Securities Limited and Cormark Securities Inc. (together with the Co-Lead Agents, the "Agents").

The completion of the Transaction is subject to the satisfaction of various conditions as are standard for a transaction of this nature, including but not limited to the approval of the TSX Venture Exchange.

Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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“INX” refers to The INX Digital Company, Inc, a technology company headquartered in Gibraltar and its affiliates.
THIS WEBSITE IS OWNED AND OPERATED BY INX. INX IS NOT A BROKER-DEALER, INVESTMENT ADVISER, OR FINANCIAL ADVISOR. INX DOES NOT GIVE INVESTMENT OR LEGAL ADVICE, ENDORSEMENTS, ANALYSIS, OR RECOMMENDATIONS WITH RESPECT TO ANY SECURITIES OR OTHER DIGITAL ASSETS. NOTHING ON THIS WEBSITE SHALL CONSTITUTE OR BE CONSTRUED AS AN OFFERING OF SECURITIES OR AS INVESTMENT ADVICE OR INVESTMENT RECOMMENDATIONS BY INX OR ITS AFFILIATES.
The INX Digital Company, Inc offers technology services to all its affiliates. Cryptocurrencies and related services are offered by INX Digital, Inc., a Delaware corporation headquartered in Gaithersburg, MD and registered with the Financial Crimes Enforcement Network and certain states as a money transmitter (NMLS 2094630). Digital securities and related services are offered by INX Securities, LLC, a broker-dealer/ATS registered with the SEC and member of FINRA/SIPC.
Securities transactions, products, and services are offered by INX Securities, LLC, member FINRA and SIPC. For information relating to INX Securities, LLC, please visit Digital Securities | BrokerCheck | Customer Relationship Summary.
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