Digital Wine Ventures Limited (ASX: DW8) focuses on identifying and investing in technology-driven ventures, which are at an early stage and can potentially disrupt and transform segments digitally within the global beverage market. DW8 offers them access to capital, expertise and shared services as well. The global wine market is worth ~$300 billion currently with a CAGR growth of 5.8%.
The company today, on 20th May 2019, announced that the Peak Asset Management will provide corporate advisory services to the company and it has engaged Peak Asset Management for the capital raising, which was approved on 23rd April 2019 in the AGM of the company.
Mr Niv Dagan, the Founder and Executive Director of Peak Asset Management, said that the company is eager to work with Dean Taylor along with the entire team at Digital Wine Ventures (DW8). Dean is a serial entrepreneur, with an outstanding track record and strong business acumen. Dean is building a platform with DW8 that is expected to revolutionise the entire Australian wine market overseas Mr Dagan further added. He also stressed that the Dean has successfully built and exited more than seven ventures, which were all in the wine sector.
Digital Wine Ventures’ CEO, Mr Dean Taylor, stated that the company is very much excited to be working with Peak Asset and its team, which will help drive shareholder value. It was not just the ability of Peak Asset to assist DW8 in raising capital and building the corporate profile that attracted the management, but also through Peak Assets’ networks, which provide strategic introductions to key players, particularly within the wine-vertical, there is a chance of opening up partnerships and customer acquisition opportunities to support long-term revenue growth for DW8.
The key terms of the mandate includes 4% capital raising fees for any funds raised by or introduced by Peak will be payable in shares at a deemed issue price of $0.006 per share with a cap of maximum shares of 4.5 million, 1% capital raising fees for any funds raised by or introduced by Peak, payable in cash.
Moreover, the key terms also comprises that subject to a successful raise of the capital, 8,000,000 unquoted options are exercisable at $0.015 each with an expiry date of 12 months from issue and 8,000,000 unquoted options are exercisable at $0.015 each with an expiry date 12 months from issue that vests upon the company achieving a 30-day VWAP of $0.02 or above and finally, a consulting fee conditional on a successful capital raise, will be paid to Peak Asset Management to drive investor and public relations, road shows and institutional meetings with the company on market rates.
On the price-performance front, while writing as of 20th May 2019, AEST 02:30 PM, the stock of Digital Wine Ventures Limited was trading at $0.007, with a market capitalisation of $5.45 million. The stock has yielded a YTD return of 40.0% and exhibited returns of 16.67%, 40.0% and 75.0% over the past six months, three months and one-month period, respectively. Its 52-week high price stands at $0.010 with a 52-week low price of $0.003 and an average trading volume of 2,080,090.
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