Digatrade Provides Shareholder Update

“UPDATE RE: CONVERTIBLE PROMISSORY NOTES”

Vancouver, British Columbia (FSCwire) - DIGATRADE FINANCIAL CORP. (OTCQB: DIGAF) an online digital asset exchange platform and blockchain development services company today provides to shareholders an update that the Company will no longer be providing online retail trading or liquidity services through its shared liquidity order-book with ANX Technologies based in Hong Kong.

As previously posted and currently on the Company website dated October 1, 2018, “Effective October 17, 2018 Digatrade will no longer be providing retail exchange trading services, retail customer fiat deposits or withdraws or any further retail live order-book trading or functionality. All Digatrade customers are required to withdraw their crypto-assets by the October 17, 2018 cut-off date. After October 17, 2018 the order-book will be disabled until further notice. In addition, no fiat withdraws are available effective immediately, please convert to crypto and withdraw before Oct 17, 2018.

The Company CEO, Brad Moynes stated: “The Digatrade OTC Trade Desk will remain active for its institutional customers and accredited traders with a new minimum trade value of US$25,000”. “The Company’s shift away from the high administrative and compliance costs associated with operating a centralized coin exchange along with the low transaction volume has resulted in the decision”.

The Company is currently evaluating and conducting due diligence on several acquisition targets within the Financial Technology “Fintech” sector and is hopeful that an event will materialize in the near future.

In addition, the Company reports that during fiscal 2017 and up to the Q3 reporting period ended September 30, 2018 funds raised via Convertible Promissory Notes “CPN” totalled approximately US$1.2m. All notes have a fixed interest rate ranging between 8%-12%, mature between 6-12 months and obtain discount to market conversion terms and provisions agreed to by the parties. In total, thirteen Notes were transacted amongst five third party lenders who participated in funding the Company. Of the thirteen Notes issued ten have been fully repaid and have a zero balance. The remaining 3 Notes that have achieved maturity, have a combined balance owing of approximately less than US$100,000. It is anticipated that the remaining combined balance will be cleared from the Company balance sheet during Q4 or sooner.

Additional information will be provided as it materializes.

ABOUT DIGATRADE:

DIGATRADE is a global digital asset exchange and blockchain development services company located in Vancouver, British Columbia, Canada. The Company is owned and operated 100% by Digatrade Financial Corp which is publically listed on the OTC.QB under the trading symbol DIGAF. DIGAF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC". Digatrade operates as a registered Money Service Business “MSB” in Canada with FINTAC under Registration Number: M15954395.

CORPORATE CONTACT INFORMATION:

Digatrade Financial Corp

1500 West Georgia Street, 1300

Vancouver, BC V6G-2Z6 Canada

Tel: +1(604) 200-0071

Fax: +1(604) 200-0072

www.digatrade.com

Forward-Looking Information

This press release contains certain “forward-looking information”. All statements, other than statements of historical fact, that address activities, events or development that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking information whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

To view the original release, please click here

Source: Digatrade Financial Corp. (OTCQB:DIGAF)

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