DigitalTown Nets $10M from Auctus Private Equity

Social networking company DigitalTown, which trades on the over-the-counter bulletin board, has sealed a $10 million financing agreement with Boston-based Auctus Private Equity. Under the terms of the financing, DigitalTown has the right to sell up to $10 million in company stock to Auctus over a three-year-period. Burnsville, Minn.-based DigitalTown is developing a national network of online communities for high school students, alumni and boosters.

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