{"id":726188,"date":"2023-01-26T09:05:51","date_gmt":"2023-01-26T14:05:51","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/medigus-gix-media-increases-holdings-in-cortex-media-group-to-80-of-its-share-capital\/"},"modified":"2023-01-26T09:05:51","modified_gmt":"2023-01-26T14:05:51","slug":"medigus-gix-media-increases-holdings-in-cortex-media-group-to-80-of-its-share-capital","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/medigus-gix-media-increases-holdings-in-cortex-media-group-to-80-of-its-share-capital\/","title":{"rendered":"Medigus: Gix Media Increases Holdings in Cortex Media Group to 80% of its Share Capital"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">\n        <strong>Tel Aviv, Israel, Jan.  26, 2023  (GLOBE NEWSWIRE) &#8212; <\/strong>\u00a0Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions, innovative internet technologies and electric vehicle and charging solutions,\u00a0today announced that Gix Media Ltd. (\u201cGix Media\u201d), a subsidiary of Medigus affiliate, Gix Internet (in which Medigus holds 42.25%) (TASE: GIX), a global marketing technology (MarTech) solutions company for online performance-based-marketing, acquired an additional 10% of Cortex Media Group Ltd. (\u201cCortex\u201d), a digital publishing company, increasing its holdings to 80% of the share capital of Cortex on a fully diluted basis (the \u201cSubsequent Purchase\u201d).\u00a0<\/p>\n<p align=\"justify\">The Subsequent Purchase was completed at a valuation of Cortex of approximately $27 million in exchange for consideration consisting of $2.7 million in cash.<\/p>\n<p align=\"justify\">The Subsequent Purchase follows Gix Media\u2019s initial purchase of 70% of Cortex\u2019s share capital in October 2021 (the \u201cInitial Purchase\u201d). At the Initial Purchase, Cortex was valued at $16 Million and the increase in Cortex\u2019s current valuation is primarily due to an increase in its results and activity and its improved financials.<\/p>\n<p align=\"justify\">During the period following Gix Media\u2019s Initial Purchase, Gix Media\u2019s revenues grew by 176%\u00a0to $66.1 million\u00a0during the nine months ending September 30, 2022, as compared to the same period in 2021.<\/p>\n<p align=\"justify\">Gix Media intends to finance the Subsequent Purchase through both cash and the expansion of a $1.5 million loan.<\/p>\n<p>\n        <strong><br \/>\n          <u>About Medigus<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Based in Israel, Medigus Ltd. (Nasdaq: MDGS) is a technology company focused on innovative growth partnerships, mainly in advanced medical solutions, digital commerce and electric vehicle markets. Medigus\u2019 affiliations in the medical solutions arena include ownership in Polyrizon Ltd. and ownership in industry 4.0 company, ScoutCam Inc. The Company\u2019s affiliates in digital commerce include Gix Internet Ltd., Jeffs\u2019 Brands Ltd. and Eventer Technologies Ltd. In the electric vehicle market, Charging Robotics Ltd. and Revoltz Ltd. are also part of the Company\u2019s portfolio of technology solution providers. To learn more about Medigus\u2019 advanced technologies, please visit: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=uRnjl_N4YibItTW4TRR0cQz6mqiXpMcB0N7Qj2sJFeME5jL9FOdmXxAEbktk7lETJexgerpdxw61N-pcRpc_5-4LtuOU8_zSi2l0YtZvXXo=\" rel=\"nofollow noopener\" target=\"_blank\"><u>http:\/\/www.medigus.com\/<\/u><\/a>.<br \/>\u00a0<strong>\u00a0<\/strong><br \/><strong><u>Forward-Looking Statements<\/u><\/strong><\/p>\n<p align=\"justify\">This press release contains forward-looking statements within the meaning of the \u201csafe harbor\u201d provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as \u201cexpects,\u201d \u201canticipates,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cbelieves,\u201d \u201cseeks,\u201d \u201cestimates\u201d and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Medigus\u2019 current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements could differ materially from those described in or implied by the statements in this press release. <\/p>\n<p align=\"justify\">The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed in any filings with the SEC. Except as otherwise required by law, Medigus undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Medigus is not responsible for the contents of third-party websites.<\/p>\n<p>\n        <strong>Company Contact:<\/strong>\n      <\/p>\n<p>Tali Dinar<br \/>Chief Financial Officer<br \/>+972-8-6466-880<br \/>ir@medigus.com<\/p>\n<p>\n        <strong><br \/>\n          <strong>Investor Relations Contact:<\/strong><br \/>\n        <\/strong><br \/>\n        \n      <\/p>\n<p align=\"justify\">Michal Efraty<br \/>Investor Relations, Israel<br \/>+972-(0)52-3044404<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=hC4Ql7piaTpANK1PEcYImLRe_ury0kqWNBcFwqDNyixg9R28Ee-lbBk6pYVO7MKCvmi-XhLvdfutC4TaUNMKrA==\" rel=\"nofollow noopener\" target=\"_blank\"><u>michal@efraty.com<\/u><\/a><\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODczNzI5OCM1Mzc2NTQyIzUwMDA2NDMzMQ==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MjNjNjIwYTYtYmNjMi00MmI5LTg3YjUtNDcwN2NiOTk0YzhkLTUwMDA2NDMzMQ==\/tiny\/Medigus-Ltd.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Tel Aviv, Israel, Jan. 26, 2023 (GLOBE NEWSWIRE) &#8212; \u00a0Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions, innovative internet technologies and electric vehicle and charging solutions,\u00a0today announced that Gix Media Ltd. (\u201cGix Media\u201d), a subsidiary of Medigus affiliate, Gix Internet (in which Medigus holds 42.25%) (TASE: GIX), a global marketing technology (MarTech) solutions company for online performance-based-marketing, acquired an additional 10% of Cortex Media Group Ltd. (\u201cCortex\u201d), a digital publishing company, increasing its holdings to 80% of the share capital of Cortex on a fully diluted basis (the \u201cSubsequent Purchase\u201d).\u00a0 The Subsequent Purchase was completed at a valuation of Cortex of approximately $27 million in exchange for consideration consisting of $2.7 million in cash. The Subsequent &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/medigus-gix-media-increases-holdings-in-cortex-media-group-to-80-of-its-share-capital\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Medigus: Gix Media Increases Holdings in Cortex Media Group to 80% of its Share Capital&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-726188","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Medigus: Gix Media Increases Holdings in Cortex Media Group to 80% of its Share Capital - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/medigus-gix-media-increases-holdings-in-cortex-media-group-to-80-of-its-share-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Medigus: Gix Media Increases Holdings in Cortex Media Group to 80% of its Share Capital - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Tel Aviv, Israel, Jan. 26, 2023 (GLOBE NEWSWIRE) &#8212; \u00a0Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions, innovative internet technologies and electric vehicle and charging solutions,\u00a0today announced that Gix Media Ltd. (\u201cGix Media\u201d), a subsidiary of Medigus affiliate, Gix Internet (in which Medigus holds 42.25%) (TASE: GIX), a global marketing technology (MarTech) solutions company for online performance-based-marketing, acquired an additional 10% of Cortex Media Group Ltd. (\u201cCortex\u201d), a digital publishing company, increasing its holdings to 80% of the share capital of Cortex on a fully diluted basis (the \u201cSubsequent Purchase\u201d).\u00a0 The Subsequent Purchase was completed at a valuation of Cortex of approximately $27 million in exchange for consideration consisting of $2.7 million in cash. The Subsequent &hellip; Continue reading &quot;Medigus: Gix Media Increases Holdings in Cortex Media Group to 80% of its Share Capital&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/medigus-gix-media-increases-holdings-in-cortex-media-group-to-80-of-its-share-capital\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-26T14:05:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODczNzI5OCM1Mzc2NTQyIzUwMDA2NDMzMQ==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/medigus-gix-media-increases-holdings-in-cortex-media-group-to-80-of-its-share-capital\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/medigus-gix-media-increases-holdings-in-cortex-media-group-to-80-of-its-share-capital\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Medigus: Gix Media Increases Holdings in Cortex Media Group to 80% of its Share Capital\",\"datePublished\":\"2023-01-26T14:05:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/medigus-gix-media-increases-holdings-in-cortex-media-group-to-80-of-its-share-capital\\\/\"},\"wordCount\":548,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/medigus-gix-media-increases-holdings-in-cortex-media-group-to-80-of-its-share-capital\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODczNzI5OCM1Mzc2NTQyIzUwMDA2NDMzMQ==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/medigus-gix-media-increases-holdings-in-cortex-media-group-to-80-of-its-share-capital\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/medigus-gix-media-increases-holdings-in-cortex-media-group-to-80-of-its-share-capital\\\/\",\"name\":\"Medigus: Gix Media Increases Holdings in Cortex Media Group to 80% of its Share Capital - 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(Nasdaq: MDGS), a technology company engaged in advanced medical solutions, innovative internet technologies and electric vehicle and charging solutions,\u00a0today announced that Gix Media Ltd. (\u201cGix Media\u201d), a subsidiary of Medigus affiliate, Gix Internet (in which Medigus holds 42.25%) (TASE: GIX), a global marketing technology (MarTech) solutions company for online performance-based-marketing, acquired an additional 10% of Cortex Media Group Ltd. (\u201cCortex\u201d), a digital publishing company, increasing its holdings to 80% of the share capital of Cortex on a fully diluted basis (the \u201cSubsequent Purchase\u201d).\u00a0 The Subsequent Purchase was completed at a valuation of Cortex of approximately $27 million in exchange for consideration consisting of $2.7 million in cash. 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