DLOC ...Digital Locations Receives Capital Commitment from GHS Investments of up to $10 Million
The Company will use proceeds from the equity credit line to develop its disruptive technology that will deliver high-speed Internet from satellites directly to smartphones all over the world
SANTA BARBARA, CA, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Digital Locations, Inc. (OTCMKTS:DLOC), the developer of a disruptive technology that will deliver high-speed Internet from satellites directly to smartphones all over the world, today announced that it has entered into an Equity Financing Agreement (the “Agreement”) with GHS Investments, LLC (GHS). Pursuant to the Agreement, GHS has agreed to purchase up to $10.0 million in registered common stock, with timing and amounts of the purchases to be determined at the sole discretion of Digital Locations. The proceeds from the equity credit line will be used in part to further the development of Digital Locations’ disruptive technology that will deliver high-speed Internet from satellites directly to smartphones all over the world. “This financing from GHS will help accelerate the development of our disruptive technology,” said Rich Berliner, CEO of Digital Locations. “We appreciate the confidence that GHS has placed in us.” GHS is a private investment and management group providing financial solutions for high-potential small-cap enterprises. For further information regarding the terms and conditions of GHS’s investment commitment, see the Company’s 8-K filed with the Securities and Exchange Commission on September 12, 2023.
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