DigiMax Signs Definitive Agreement to Acquire Spetz Tech Limited

TORONTO, ON / ACCESSWIRE / June 23, 2022 / DIGIMAX GLOBAL INC. (the "Company" or "DigiMax") (CSE:DIGI), (OTC PINK:DBKSF) is pleased to announce that it has signed a definitive agreement (the "Agreement") dated June 23, 2022, to acquire all of the issued and outstanding shares of Israel-based Spetz Tech Ltd. ("Spetz"), a technology company which has developed artificial intelligence ("AI") software to operate a revolutionary and fast-growing mobile application that connects consumers to available, top-rated tradespeople, service providers and professionals in their area immediately or at any schedule time (the "Transaction").

Spetz's proprietary mobile application uses AI to determine which service provider best matches the work sought by a given consumer, then immediately establishes a connection between consumer and service provider, usually within 30 seconds to one minute of the consumer request. The Spetz platform allows it to charge a small fee for every job opportunity offered to a service provider through its platform with no costs passed along to the consumer. The proprietary Spetz mobile application has been in operation in Israel for four years, the United Kingdom for two years and in Australia for one year. Spetz is a global online, AI-powered marketplace platform that dynamically connects consumers to nearby rated service providers.

"Spetz's network of service providers and AI technology are ahead of the curve, and the existing synergies between it's business and DigiMax are readily apparent," said Chris Carl, CEO of DigiMax. "The rapid adoption of Spetz's application in Australia and the UK has shown that Spetz's model works, and with the support provided by DigiMax, we believe that a similar, if not greater, rate of adoption of Spetz's application will occur in North America."

Transaction Rationale

• To date, Spetz has generated over 400,000 service calls, and has connected members of the public to almost 10,000 service providers worldwide;
• Spetz intends to enter the US market in Q3 of 2022 and sees substantial growth potential over three years while maintaining a balance of marketing spending and revenue generation, in addition to anticipated growth in its existing regions;
• The Spetz platform is highly scalable, with more than 400 service categories built into the system to date, an ability to support millions of service calls worldwide, automated onboarding and account management for clients, and seamless integration capabilities for other service industries; and
• Spetz has the potential to become a service coordination tool for any Business to Consumer service across many industries and sectors, including accounting, legal services, healthcare industry and homecare services. This multi-disciplinary, AI-driven, and scalable design differentiates Spetz from its current competitors in the marketplace.

Terms of the Transaction