Diginex Updates Acquisition Roadmap, Low Likelihood of Closing Kindred Deal

Diginex announced a strategic update on its forward-looking acquisition roadmap. Diginex remains in active and constructive dialogue with Resulticks Global Companies, with final terms to the definitive transaction documentation now agreed to and deal documents in the process of being updated by counsels. It is anticipated that the closure of the cash consideration elements of the deal will be conditional upon the execution of a solely debt-based acquisition financing facility without further equity dilution. The parties are in talks with several debt providers, and it is anticipated that an update will be able to be provided with regards to the final definitive transaction documentation, including the debt facility within the next 30 days. Diginex reports that the due diligence and drafting on definitive agreements with IDRRA Cyber Security has been paused due to a lack of substantive due diligence, process or material progress on the definitive transaction documentation. Diginex anticipates that acquisition of Findings is unlikely to occur in the short-term. Diginex has not received substantive due diligence from Kindred OS. Accordingly, Diginex believes that continuing to pursue definitive transaction documentation is not warranted, and at this time it appears that closing of the Kindred deal is unlikely.