Spirit Blockchain Capital Achieves Key Milestone in Financing
Spirit Blockchain Capital Achieves Key Milestone
Spirit Blockchain Capital Inc. is excited to inform stakeholders about a significant accomplishment: the successful closing of its Listed Issuer Financing Exemption Offering. This notable event resulted in around $2.1 million in gross proceeds. This achievement marks a critical turning point in the company’s path toward developing leading-edge digital asset management systems and enhancing its blockchain infrastructure initiatives.
Strategic Deployment of Proceeds
The funds raised via the LIFE Offering are earmarked for strategic initiatives aimed at propelling Spirit forward. Key activities include the acquisition of Dogecoin at current market rates, the creation and implementation of the Spirit Blockchain Layer Zero Protocol, and the enhancement of the company’s digital asset management capabilities. These projects reflect Spirit's long-term vision: to innovate blockchain investment products that seamlessly integrate with established financial markets.
CEO's Vision for the Future
"This successful financing is a foundational step in executing our long-term strategy," expressed Lewis Bateman, CEO of Spirit Blockchain Capital. He emphasized the company's commitment to positioning itself at the forefront of digital asset transformation, thus creating pathways that connect traditional finance with blockchain innovations. The infusion of capital represents an opportunity to speed up various initiatives, significantly enhancing the company’s ability to provide institutional-grade blockchain investment solutions.
Innovative Blockchain Investment Opportunities
Spirit Blockchain Capital prides itself on delivering diversified and high-quality exposure to blockchain avenues through a multifaceted investment approach. The firm is progressively expanding its footprint in the digital asset ecosystem, utilizing its profound knowledge of blockchain infrastructure, decentralized finance (DeFi), and tokenized investments. This commitment drives the development of a well-rounded suite of blockchain-centric financial services.
Insights into the LIFE Offering
Through the LIFE Offering, Spirit issued 14,088,491 units, priced at $0.15 each. Each unit comprises one fully paid common share and half of a purchase warrant, with each warrant being convertible into a common share at a price of $0.25 per share over a two-year period following the offering’s closure. This structure ensures that shares included in the units and those obtainable from warrant exercise will be freely tradable.
Role of the Co-Lead Agents
Canaccord Genuity Corp. and Leede Financial Inc. served as co-lead agents for this LIFE Offering. As a part of the agreement, the company offered an 8% cash commission on the gross proceeds and issued broker warrants equal to 8% of all sold units. The brokers can exercise these warrants at $0.15 each for the next two years. Furthermore, a corporate finance fee of $50,000 was also rendered in units. It's important to note that shares and warrants awarded to the Agents are subject to a hold period of four months plus one day due to Canadian securities regulations.
The Role of Legal Counsel
In connection with the LIFE Offering, Spirit was represented by Fasken Martineau DuMoulin LLP, who served as legal counsel. Meanwhile, Wildeboer Dellelce LLP fulfilled the same role for the Agents. Their expertise has been invaluable in navigating the complexities of the financial landscape.
About Spirit Blockchain Capital Inc.
Spirit Blockchain Capital Inc. is committed to providing investors with access to blockchain-based growth solutions through a diversified framework. The company upholds values of transparency, innovation, and sustainable long-term value creation, ensuring they consistently align with industry advancements.
For further inquiries or information, you can reach out to:
?Lewis Bateman
?Chief Executive Officer
?info@spiritblockchain.com
Frequently Asked Questions
What is Spirit Blockchain Capital's latest announcement?
Spirit Blockchain Capital announced the successful closing of its LIFE Offering, raising approximately $2.1 million.
How does Spirit plan to use the proceeds from the LIFE Offering?
The proceeds will finance initiatives such as acquiring Dogecoin and developing the Spirit Blockchain Layer Zero Protocol among other growth strategies.
Who acted as financial agents in the LIFE Offering?
Canaccord Genuity Corp. and Leede Financial Inc. acted as co-lead agents for the LIFE Offering.
What type of investment opportunities does Spirit Blockchain Capital offer?
Spirit focuses on diversified blockchain investment opportunities through advanced technology and partnerships, supporting sustainable growth.
Who is the CEO of Spirit Blockchain Capital?
The current CEO of Spirit Blockchain Capital is Lewis Bateman.
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