Home Blockchain Spirit Blockchain Announces Adjustment to Terms of Strategic Investment in InvestDEFY Technologies -October 13, 2023 at 05:02 pm EDT

Spirit Blockchain Announces Adjustment to Terms of Strategic Investment in InvestDEFY Technologies -October 13, 2023 at 05:02 pm EDT

by Abigail Bautista

Spirit Blockchain Capital Inc., a prominent digital asset investment firm, has announced that it has reached an agreement with InvestDEFY Technologies Inc., an AI platform for the digital asset space. The agreement involves settling the cash component of the consideration in common shares of Spirit.

As part of the agreement, Spirit will issue a total of 4,275,000 common shares to InvestDEFY at a price of $0.05 per share. This move aims to increase InvestDEFY’s equity position in Spirit. The issuance of these shares will take place on October 20, 2023, in accordance with the policies of the Canadian Securities Exchange.

It is important to note that all the common shares that will be issued are subject to a statutory four-month hold period, as per the regulations of the Canadian Securities Exchange and applicable securities laws. Additionally, these securities have not been registered under the United States Securities Act of 1933, and cannot be offered or sold in the United States without proper registration or an exemption from the registration requirements.

Spirit Blockchain Capital is at the forefront of the blockchain industry, serving as a leading investment company. Through its operational business line and asset management business, Spirit provides investors with various opportunities for capital appreciation. The company places a strong emphasis on innovation, strategic investments, and operational excellence to unlock the potential of the digital economy.

For more information about Spirit Blockchain Capital, interested individuals can visit their website at www.spiritblockchain.com. Media inquiries can be directed to Lewis Bateman, the Chief Executive Officer, at info@spiritblockchain.com.

As with any forward-looking statements, this news release includes certain statements that are subject to risks and uncertainties. The purpose of these statements is to provide information about current expectations and plans regarding the future, but readers are cautioned that they may not be appropriate for other purposes. The information provided is subject to inherent risks and uncertainties that may give rise to the possibility of inaccurate expectations, forecasts, predictions, projections, or conclusions. These risks and uncertainties, in addition to other factors, can be found in the company’s public filings under its SEDAR+ profile on www.sedarplus.ca. The company disclaims any intention or obligation to update or revise any forward-looking information, except as required by law.

It is important to note that the Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

In conclusion, Spirit Blockchain Capital’s agreement with InvestDEFY Technologies Inc. represents a significant development in the digital asset investment space. By settling the cash component of the consideration in common shares, Spirit aims to strengthen InvestDEFY’s equity position while positioning itself as a leading player in the blockchain industry.

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