VANCOUVER, Jan. 16, 2025 (GLOBE NEWSWIRE) — Spirit Blockchain Capital (SBC or a company) (CSE: SPIR), is pleased to announce the successful closing of the second tranche of its previously announced non-brokered private placement ( an offer).
Under this second tranche, SBC issued 883,009 units (Units) at $0.165 per unit, resulting in total proceeds of $145,696.49. Each unit consists of one common share of SBC (a Shared share) and one-half of a common stock purchase warrant (a note). Each whole warrant entitles the holder to acquire an additional common share at an exercise price of $0.255 for a period of 24 months from the date of issuance.
The net proceeds of this offering will be strategically allocated to accelerate revenue expansion opportunities, enhance investor relations and support the company's overall operations. All securities issued under the Offering are subject to a statutory holding period of four months and one day from the date of issuance.
Spirit Blockchain Capital continues to work closely with our key international investors, reflecting their strong confidence in our vision and strategy. While the investment process faces delays due to regulatory frameworks and settlement requirements, both parties remain fully committed to completing the deal. This strategic partnership highlights the trust placed in Spirit Blockchain Capital's leadership and long-term potential.
Our commitment to transparency and regulatory compliance ensures that we are well positioned to deliver sustainable shareholder value. As we close this important investment, Spirit Blockchain Capital continues to strengthen its role as a trusted innovator in the blockchain and digital asset space, driving growth and innovation in token finance.
About Spirit Blockchain Capital
Spirit Blockchain Capital is a leading investment firm at the forefront of the blockchain industry. Through our operating and asset management business lines, we offer investors a range of capital appreciation opportunities. With a strong focus on innovation, strategic investments and operational excellence, Spirit Blockchain is poised to unleash the potential of the digital economy.
For media inquiries, please contact:
Louis (Joe:) Bateman
chief executive officer
info@spiritblockchain.com
Forward-looking statements
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words expect, anticipate, continue, estimate, aim, may, will, expect, should, believe, plans, intends and similar expressions are intended to identify forward-looking information or statements. Forward-looking statements contained in this press release include the Company's expectations of additional investments from international subscribers and the timing of completion of such investments, the Company's proposed use of proceeds from the offering and the Company's business plans. Forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on forward-looking statements and information because the Company can give no assurance that they will prove to be correct. correct. Because forward-looking statements and information address future events and conditions, by their nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks, including, without limitation, the risk that the Company may not receive additional subscriptions from international subscribers on a timely basis or at all, and that even if such subscriptions are received, such subscriptions may not be in the expected amounts. Factors that could materially affect this forward-looking information are described under the heading Risk Factors in the Company's long-form prospectus dated August 8, 2022, which is available on the Company's profile on SEDAR at www.sedar.com. The Company undertakes no obligation to update forward-looking information except as required by applicable law. This forward-looking information represents management's best judgment based on currently available information. No forward-looking statement can be guaranteed and actual future results may differ materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
CSE has not reviewed, approved or disapproved the content of this press release.
Source: Spirit Blockchain Capital
