- DMG Blockchain Solutions (DMGI) has made a C$3 million investment in Brane Capital, an Ottawa-based cryptocurrency and digital asset custodian
- DMG has agreed to purchase 8 million units of Brane at $0.375 per unit
- The investment will allow DMG’s custody solutions to enter the market sooner than anticipated
- The company’s investment will also facilitate advanced blockchain technology development and continued leadership in environmental sustainability
- DMG manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem
- DMG Blockchain Solutions (DMGI) is down 11.90 per cent, trading at $0.74 per share at 11:43 am ET
DMG Blockchain Solutions (DMGI) has made a C$3 million investment in Brane Capital, an Ottawa-based cryptocurrency and digital asset custodian.
Brane currently offers a crypto asset self-custody technology solution for IIROC-regulated securities dealers and is working toward becoming Canada’s first qualified custodian for digital assets.
Its custody technology is certified ISO 27001, ISO 27017, and NIST CSF Tier 4 for digital assets under custody, with SOC 2 certification in progress by audit firm MNP.
DMG has agreed to purchase 8 million units of Brane at $0.375 per unit.
Each unit is composed of one Brane common share and one-half of one common share purchase warrant.
Each warrant entitles DMG to purchase one additional Brane common share for $0.50 for a period of 24 months.
The investment and partnership with Brane will allow DMG’s custody solutions, under the Blockseer portfolio, to enter the market sooner than anticipated and complement other technology investments DMG is currently planning.
DMG’s investment will also accelerate market traction for both companies and facilitate the development of advanced blockchain technologies, as well as continued progress toward leadership in environmental sustainability.
Sheldon Bennett, DMG’s CEO, commented,
“DMG considers Brane to be a unique and promising company in the global crypto custody space, and we’re excited about the opportunities this investment will achieve for both companies. DMG and Brane share strong commitments to innovation, integrity and sustainability. This new partnership will position both companies as setting new standards of excellence in the blockchain sector.”
Adam Miron, Brane’s Chairman and Interim CEO, and co-founder of HEXO Corp., added,
“We are long-time admirers of DMG and its leadership team, so we are thrilled to realize this partnership and welcome Sheldon Bennett to our Board of Directors. Working together, Brane and DMG have an opportunity to make Canada a global leader in developing a well-regulated, sustainable blockchain industry that unlocks economic opportunity while protecting all market participants.”
DMG manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem.
DMG Blockchain Solutions (DMGI) is down by 11.90 per cent, trading at $0.74 per share at 11:43 am ET.
