Update: Spirit Blockchain Capital Closes Second Tranche of Private Placement

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On January 16, 2025, Spirit Blockchain Capital Inc. ("SBC") announced the completion of the second phase of its private placement. This non-brokered offering was previously announced and has successfully attracted investors.

In this second tranche, SBC issued a total of 883,009 units at a price of $0.165 each, generating approximately $145,696.49 in gross proceeds. Each unit consists of one common share of SBC and half of a common share purchase warrant. Holders of a full warrant will have the right to acquire an additional common share at an exercise price of $0.255 within a 24-month period.

The funds raised through this offering are earmarked to promote revenue growth, boost investor relations, and support overall corporate activities. All securities issued within this offering will be subject to a four-month and one-day statutory hold period commencing from the date of issuance.

SBC remains committed to collaborating closely with key international investors, emphasizing the trust they have in SBC's vision and operational strategy. Although the process of investment has been somewhat delayed due to regulatory and settlement protocols, both SBC and its international partners are determined to finalize the transaction. This partnership showcases strong trust in leadership and the future potential of Spirit Blockchain Capital.

The company also underscores its commitment to transparency and adherence to regulatory standards, positioning itself to deliver ongoing value to its shareholders. As SBC progresses with this significant investment, it continues to reinforce its status as a pioneering force in the blockchain and digital asset sectors, contributing to innovation in tokenized finance.

About Spirit Blockchain Capital

Spirit Blockchain Capital is a prominent investment entity in the blockchain domain. It provides diverse investment opportunities aimed at capital growth through its operational and asset management ventures. With a strategic focus on innovation, investment opportunities, and operational excellence, SBC is well-positioned to exploit the expanding potential of the digital economy.

For further inquiries, interested parties can contact:

Lewis Bateman
Chief Executive Officer
[email protected]

Forward-Looking Statements

This update contains forward-looking statements and forecasts as per applicable securities regulations. Phrases like “expect,” “anticipate,” “plan,” “believe,” and similar expressions are meant to indicate such information. Expectations regarding investments from international contributors and their completion timelines, as well as proposed uses of offering proceeds, are included. These statements are based on certain assumptions and expectations held by the Company.

While SBC believes the assumptions behind these forward-looking statements are reasonable, there is no assurance they will ultimately prove correct. Forward-looking information addresses future events and inherently involves risks and uncertainties. Actual results may significantly differ due to varied factors, including potential delays in receiving subscriptions. Interested individuals may review potential risks detailed in SBC's long-form prospectus dated August 8, 2022, available on SEDAR at www.sedar.com. SBC bears no obligation to update forward-looking information unless legally required.

The Canadian Securities Exchange (CSE) has not reviewed or approved this press release.

investment, blockchain, funding