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Digital Caddies, Inc. Receives Funding of $2.7M
Digital Caddies, Inc. Receives Funding of $2.7M.
About this update from Izon Network Inc
[{"type":"text","content":"\n \n \n Digital Caddies, Inc. Receives Funding of $2.7M\n \n \nDigital Caddies, Inc. Receives Funding of $2.7M\n\nInvestment to Be Used to Fund Growth and Development of the Players Network\n\n \n SCOTTSDALE, AZ--(Marketwired - Apr 2, 2014) - Digital Caddies Inc. (OTC Pink: CADY) (PINKSHEETS: CADY) is pleased to announce that it has received a total of $2.7M of funding on the previously announced equity capital raise being completed by Paulson Investments -- a boutique investment bank specializing in the small and mid-cap markets. \n The offering was priced at $.80 per Unit and consists of (i) 4 common shares of stock; and (ii) 2 common stock purchase warrants. Each warrant is exercisable for one common share at $0.40 per share with a 5 year term. Funds raised are being used to continue the growth and development of The Players Network and other general working capital.\n Digital Caddies launched The Player's Network in late 2013 -- a tablet based course navigation and content platform installed on golf carts. To date the system has been installed on approximately 5000 golf carts on over 60 golf courses across the country. On March 4th, 2014 the company announced that the network was generating advertising impression inventory at a run rate of over 100 million per month which far exceeds management's initial expectations. This better than expected performance, immediately resulted in the announcements of agreements with many premium 3rd party advertising networks who are working with Digital Caddies to fill the ad space with premium ad units and drive meaningful revenue through The Players Network. \n By installing multi-functional, Internet-connected, high-resolution tablets in golf carts on golf courses across North America, Digital Caddies is building a proprietary, nationwide, interactive network -- The Player's Network. The network most notably offers national and local advertisers the ability to not only reach, but also to intimately engage with one of the most attractive and sought after demographic segments -- the golfer.\n Once a golf course is equipped with The Player's Network, golfers are treated to a host of useful and engaging applications and services including GPS-based course navigation, touch screen interaction and on-course messaging. The platform can also provide the a...