InnerScope Hearing Technologies (OTC: INND) today announced its engagement of DigiMax Global Solutions (CSE: DIGI) to raise $15 million in private placement offerings for its current growth, and to retire most, if not all, of its remaining convertible debt. Further, InnerScope has been in discussions with its noteholders for negotiated payoff terms for its remaining convertible debt and expects shareholder value to quickly increase at time of payoff. The Private Placement will additionally finance InnerScope’s plans for a national rollout of 1000+ Point of Sale Hearing Screening Retail Kiosk (“Hearing Kiosks”) locations as well as fulfilling its current orders of 200+ locations of its Hearing Kiosks and Hearing Product Portfolio. “We are thrilled to have DigiMax assist us in our equity capital raising efforts,” Matthew Moore, CEO of InnerScope Hearing Technologies, said in the news release. “We are extremely confident in DigiMax’s ability to raise the total $15 million dollars for InnerScope in the next 90 days. We believe after the close of the funding, will allow InnerScope the opportunity to quickly take control of the market and thus increasing shareholder value by paying off the remaining variable convertible debt.”
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About InnerScope Hearing Technologies
InnerScope Hearing Technologies is a rapidly expanding consolidator of the hearing aid industry. Management is applying decades of profitable industry experience and technology to an antiquated and disjointed industry, unlocking scale and efficiency, which will serve all of InnerScope’s stakeholders. Its direct-to-consumer model is revolutionizing the industry with its Walmart.com, Sears.com and Kmart.com relationship representing a paramount shift in the consumption of hearing aids by the hearing impaired.
In addition, InnerScope plans to continue to open, acquire, and operate a physical chain of audiological and retail hearing aid clinics. InnerScope’s mission is to serve approximately 1.2 billion people around the globe that are suffering with 25db or greater hearing loss across the entire hearing impaired vertical from R&D and manufacturing through direct consumer sales and services. For more information, follow its Official Twitter account at https://twitter.com/inndstock or visit the company’s website at www.INND.com.
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