Medigus: Gix Internet Announced that its Board of Directors Resolved to Identify New Opportunities and Activities for a Merge...
March 31 2021 - 9:18AM
Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in
advanced medical solutions and innovative internet technologies,
today announced that Gix Internet (24.99%) (TASE: GIX), a global
marketing technology (MarTech) solutions company for online
performance-based-marketing, announced several business updates.
Gix Internet’s board of directors has resolved to establish a
committee of the board of directors to identify new opportunities
and activities to merge with Gix, focusing on technology and other
sectors, that are not necessarily in the field of online
advertising. If a new activity is found and leads to a binding
agreement and a merger, Gix Internet will examine the possibility
of taking Linkury public and/or distributing its shares as a
dividend to Gix’s shareholders.
Additionally, Gix’s board of directors has resolved that all of
the group’s online advertising activities will be consolidated
under Gix’s subsidiary Linkury Ltd., including any future
acquisitions and mergers, should they occur, in the sector of
online advertising.
In accordance with Gix announcement, Linkury concluded the year
of 2020 with revenues of NIS 131 million (approximately $38
million) and net profit of NIS 14.5 million (approximately $4.2
million).
Medigus recently increased its holdings in Gix Internet to
24.99%, subject to further approval of the Tel Aviv Stock Exchange
Ltd. Pursuant to the Securities Purchase Agreement between Medigus
Ltd., Gix Interent Ltd., f/k/a Algomizer Ltd., and
Linkury Ltd., dated as of June 19, 2019, Medigus exercised part of
its right to convert Linkury Shares and was issued by Gix Internet
with additional 5,903,718 ordinary shares. Medigus is entitled to
additional 3,954,980 ordinary shares in Gix Internet, representing
approximately 12.24% additional stake in Gix Internet, which will
bring Medigus holdings to 33.17%. Pursuant to the provisions of the
Companies Law, the issuance of shares representing 25% or more of
the voting rights in a public company is subject to prior
shareholder approval.
About Medigus
Medigus is traded on the Nasdaq Capital Market.
To learn more about the company’s advanced technology, please
visit www.medigus.com.
Cautionary Note Regarding Forward Looking
Statements
This press release may contain statements that
are “Forward-Looking Statements,” which are based upon the current
estimates, assumptions and expectations of the Medigus’ management
and its knowledge of the relevant market. Medigus has tried, where
possible, to identify such information and statements by using
words such as “anticipate,” “believe,” “envision,” “estimate,”
“expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,”
“potential,” “will,” “would,” “could,” “should,” “continue,”
“contemplate” and other similar expressions and derivations thereof
in connection with any discussion of future events, trends or
prospects or future operating or financial performance, although
not all forward-looking statements contain these identifying words.
For example, the Medigus uses forward looking statements when
describing when describing effective transition of Gix’s ad
tech operation to Linkury, Gix ability to maximize the
economic potential and monetize the technology covered in the press
release, the material and positive effect Gix’s change of
operation will have on its business and operations, the
possibility of taking Linkury public and / or distributing its
shares as a dividend to Gix’s shareholders, and Gix’s ability
to effectively to identify new opportunities and activities to
merge with Gix. These forward-looking statements represent Medigus’
expectations or beliefs concerning future events, and it is
possible that the results described in this press release will not
be achieved, due to inter alia the spread of COVID-19 as well as
the restriction deriving therefrom. Nothing in the description
herein should be understood or construed as the actual issuance of
Gix Internet shares to Medigus and the resulting assumption of a
controlling interest by Medigus. By their nature, Forward-Looking
Statements involve known and unknown risks, uncertainties and other
factors which may cause future results of Medigus’ activity to
differ significantly from the content and implications of such
statements. Other risk factors affecting the company are discussed
in detail in Medigus’ filings with the Securities and Exchange
Commission. Forward-Looking Statements are pertinent only as of the
date on which they are made, and the company undertakes no
obligation to update or revise any Forward-Looking Statements,
whether as a result of new information, future developments or
otherwise. Neither Medigus nor its shareholders, officers and
employees, shall be liable for any action and the results of any
action taken by any person based on the information contained
herein, including without limitation the purchase or sale of
Medigus’ securities. Nothing in this press release should be deemed
to be medical or other advice of any kind.
Investor Contact
Oz AdlerChief Financial Officer+972-8-6466-880ir@medigus.com
Medigus (NASDAQ:MDGS)
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