The tech sector got blown about Thursday throughout North America, but there were pockets of prosperity among a few companies.
Techs in New York and Toronto both got socked 1.5% by noon hour EDT Thursday.
San Antonio-based Digerati Technologies, Inc. (OTC:DTGI) is a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business market. On Thursday, the company announced its operating subsidiary, T3 Communications, Inc. has selected a financial partner to fund the Company’s previously announced acquisition of Nexogy, Inc., its fourth target acquisition, and its next series of acquisitions.
T3 has negotiated and executed a long form term sheet with principal terms on a $20-Million senior secured multi-draw credit facility.
The initial draw from the credit facility will be used to fund the Company’s acquisition of Nexogy, Inc., its fourth acquisition under Letter of Intent, and for working capital. The delayed draw portion of the facility up to the $20 Million will be available for the Company to fund future acquisitions.
DTGI shares advanced 8.2% to 3.95 cents, on volume of 842,000.
North of the border, Vancouver-based Datable Technology Corporation (TSX-Venture: DAC) has has signed three new agreements to provide licenses for PLATFORM³ and digital rewards to leading consumer goods companies. Datable Technology Corporation provides an integrated suite of digital marketing applications sold as Software as a Service, its core product being PLATFORM³. The three agreements will pay Datable approximately $122,000, plus transaction fees after meeting certain thresholds.
Under the agreements, Datable will provide software modules of PLATFORM³ and digital rewards to enable programs where consumers will be rewarded for purchasing a qualifying dollar amount of consumers products at retailers in the U.S, and Canada
Datable was crowing about a gain of 20% to six cents in midday trading, on volume of 2.5 million shares.
