Spirit Blockchain Capital's Update on Exciting Funding Initiative
Spirit Blockchain Capital's Capital Raising Efforts
Spirit Blockchain Capital Inc. (CSE: SPIR) is excited to share an update on its ongoing non-brokered private placement. The company aims to raise up to $2,500,000 through this initiative, which involves issuing up to 10,000,000 units priced at $0.05 each and up to $2,000,000 in convertible promissory notes. This offering showcases Spirit's commitment to expanding its capital base and creating shareholder value.
Details of the Offering
Each unit in this offering will consist of one common share along with a warrant. The warrant provides the holder the right to purchase an additional common share for a set period of 24 months at an exercise price of $0.18 per share. The convertible notes are a unique opportunity, set to mature three years from issuance while accumulating interest at a rate of 7.5% per annum. Investors will be able to convert these notes into common shares, enhancing their stake in the company.
Utilizing Proceeds Effectively
The funds raised through this offering will primarily support general administrative expenses and settle accounts payable. This strategic use of funds is designed to ensure operational stability and support the company’s growth strategies. The securities issued will undergo a standard hold period before any resale can occur, adhering to regulations and policies.
Spirit Blockchain's Vision
As an innovative player in the blockchain space, Spirit Blockchain Capital focuses on unlocking the potential of the digital economy. The company aims to create lucrative investment opportunities through its operational and asset management arms tailored to meet investor needs. By remaining at the forefront of this rapidly evolving industry, Spirit Blockchain is committed to driving value for its shareholders.
Commitment to Compliance
The successful completion of the offering is contingent upon meeting various regulatory requirements and adhering to best practices in corporate governance. Spirit Blockchain Capital is dedicated to ensuring transparent and compliant operations as it navigates this capital-raising initiative.
Getting in Touch
Interested parties can learn more about Spirit Blockchain Capital and its exciting opportunities by visiting the official website. For specific inquiries, Lewis Bateman, Chief Executive Officer, can be contacted directly. The company is eager to forge connections and engage with prospective investors.
Frequently Asked Questions
What is the purpose of the non-brokered private placement?
The private placement aims to raise funds for general administrative expenses and settle accounts payable, supporting the company's growth.
How many units will be issued under this offering?
Up to 10,000,000 units will be issued at a price of $0.05 each as part of the offering.
What benefits do the convertible notes provide?
The convertible notes bear interest and can be converted to common shares, offering flexibility and potential upside for investors.
What is the exercise price for the warrants?
The warrants allow holders to purchase additional common shares at an exercise price of $0.18 per share.
Who can I contact for more information?
For inquiries, contact Lewis Bateman, the Chief Executive Officer, or visit the official Spirit Blockchain Capital website for more details.
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