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Tuesday, August 3, 2021

The Powerful Rise of Q Stock DigitalTown, Inc. (OTCMKTS: DGTW)

DigitalTown, Inc. (OTCMKTS: DGTW) is making a highly explosive move up the charts making big gains and transforming into a volume leader in small caps. The stock has skyrocketed off its triple zero lows and is quickly making toast of the double zeros while attracting a huge shareholder base along the way.

Q stocks are well known for their ability to make historic gains in small caps and DGTW has been no exception so far. The Company has performed well as it executes a solid strategy while leveraging the benefits of Chapter 11 with a focus on emerging from chapter 11 with a healthy balance sheet and reorganizing its debt and ensuring existing shareholders retain their equity stakes and the commons remains intact.

DigitalTown, Inc. (OTCMKTS: DGTW) provides turn-key hosted solutions to power a comprehensive platform for government entities, citizens and merchants. The Company’s solutions improve the quality of life for residents and visitors through integrated technology for economic development, civic engagement, digital inclusion and smart tourism for cities around the world. The easy to use platform helps city officials and local merchants manage a feature-rich Smart City for web and mobile devices, and provides residents and visitors with access to Content, Community and Commerce.

The Company is developing a proprietary platform for Smart City Management. As part of this platform rollout, the Company has secured approximately 13,000 of the .CITY domains that map to significant population centers. DigitalTown has methodically secured the .CITY domains through both acquisition from existing registrants, or via direct purchase from the operator of the .CITY registrar. DigitalTown’s platform enables any city to become a Smart City, incorporating advanced features for economic development, community engagement and digital inclusion. In addition, the Company has completed acquisitions of 7 software companies: Cloud.Market, Software Masters, Inc, Rezserve Technologies Ltd, Appointment.com, Comencia Inc, Congo Ltd. and CityInformation BV, each of which brought significant intellectual property and is in process of being fully integrated into the DigitalTown platform. The Company continues to invest in software with an emphasis on capital efficiency and return on investment.

On September 21 DGTW announced the Company has filed for relief under Chapter 11 of the U.S which was completed on September 8.. Bankruptcy Code in the United States Bankruptcy Court for the District of Minnesota, St. Paul Division, paving the way for business continuity, profitability and sustained growth in shareholder value.

Following the announcement of a new management team in May 2019, DigitalTown began making substantial progress on their commitment of cleaning up the Company’s balance sheet and exploring opportunities that would bring value to the Company’s shareholders. DigitalTown was successful in converting over $2 million of debt into stock and structuring a go-forward plan with appropriate financing measures. The plan’s execution was conditional on negotiating a satisfactory resolution with its former CEO who had an active, previously disclosed lawsuit against the Company at that time. DigitalTown’s various negotiation efforts were unsuccessful, leading to the granting of a summary judgment motion in favor of the Company’s former CEO due to the Company’s inability to access resources to formally defend itself.

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Since that time, this same party has filed another lawsuit against the Company and has made hostile threats of additional suits against the Company as well as personal suits against directors and officers, unless management resigned and turned over control of the Company to him. DigitalTown’s management has been working on a detailed plan for moving the Company forward and realizing value for shareholders and all stakeholders, and is prepared to execute on this plan after a successful reorganization. In the absence of an alternate, genuine plan for the business clearly articulated by any other party, management would have considered it a breach of its fiduciary duty to turn the Company over to anyone to simply avoid the inconvenience of threatened, specious lawsuits.

“After careful consideration of all challenges and alternatives, we firmly believe that our Chapter 11 process represents the best long-term solution for DigitalTown to address its legal and liquidity challenges and to strengthen its operations for future growth and profitability,” said Sam Ciacco, CEO and Chairman of the Board of DigitalTown.

DigitalTown’s approach to leveraging the benefits of Chapter 11 allows the Company to emerge with a healthy balance sheet and reorganize its debt and fairly treating creditors, while ensuring existing shareholders retain their equity stakes. Management decided on this preferred alternative to a Chapter 7 Bankruptcy in which the positions of DigitalTown’s creditors and shareholders positions would be entirely lost. This remains a possible outcome should the Company’s plan be obstructed in some way. DigitalTown’s board and management is appreciative of the support and endorsements received to date from so many of its stakeholders.

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Currently running northbound fast DGTW is an exciting story developing in small caps; The Company is developing a proprietary platform for Smart City Management. As part of this platform rollout, the Company has secured approximately 13,000 of the .CITY domains that map to significant population centers. DigitalTown has methodically secured the .CITY domains through both acquisition from existing registrants, or via direct purchase from the operator of the .CITY registrar. DigitalTown’s platform enables any city to become a Smart City, incorporating advanced features for economic development, community engagement and digital inclusion. In addition, the Company has completed acquisitions of 7 software companies: Cloud.Market, Software Masters, Inc, Rezserve Technologies Ltd, Appointment.com, Comencia Inc, Congo Ltd. and CityInformation BV, each of which brought significant intellectual property and is in process of being fully integrated into the DigitalTown platform Q stocks are well known for their ability to make historic gains in small caps and DGTW has been no exception so far. The Company has performed well as it executes a solid strategy while leveraging the benefits of Chapter 11 with a focus on emerging from chapter 11 with a healthy balance sheet and reorganizing its debt and ensuring existing shareholders retain their equity stakes and the commons remains intact. We will be updating on DGTW when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with DGTW.

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Disclosure: we hold no position in DGTW either long or short and we have not been compensated for this article.

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